HOUSING SCHEME

Evening Post, Volume CXXVIII, Issue 3, 4 July 1939, Page 15

HOUSING SCHEME

WILTON BLOCK

ACQUISITION BY STATE

Consent was given by the City Council last night to the taking by Proclamation by the Crown of land on the Wilton block, Northland, for-housing purposes, the consideration to be paid by the Crown to be a guarantee -to complete the necessary roading and servicing to the City Engineer's requirements and to his satisfaction. To Councillor W. J. Gaudin the Mayor explained that all the council received was the roading and servicing. In effect, the city gave the Govern-! ment the land for nothing. Councillor W. Duncan: We do not get rates? The Mayor: Yes, but only while the properties are occupied. Councillor Gaudin: Is the Crown taking the whole block? '; The Mayor: No, but a very big area of it. We gave the Crown the land for nothing, if the. Crown would meet the cost of servicing. If we had undertaken the work of development we would also have had to find the money to build the houses, and thus enter into competition with the Government. Councillor M. F. Luckie: Nobody, but the Government could take over a huge block such as this. If we did it, we would have it on our hands for years. COUNCIL'S GUARANTEED LOANS. | A sub-committee consisting of the Town Clerk, City Solicitor,,.and Cityj Valuer was authorised to approve of applications for the council', guarantee of loans for the erection of dwellings, provided that" the applications meet with the council's requirements. The form of' agreement between the council and financial institutions, as drafted by the City Solicitor, was approved. Three applications for the council's guarantee; for loans were approved. . As was proposed at-a recent meeting of the council, a sub-committee has prepared two explanatory booklets, one for the assistance of intending borrowers and the second fbr the information of lending institutions desirous of operating under the Act. The explanations interpret;the legal phraseology and set out typical cases of loan amounts and terms, weekly payments and the amounts which would be owing at the end of various terms, and general advice upon procedure. Detailed inquiries should be made through the Town Clerk, from whom copies of the booklets may be obtained. " --y ;