LOAN FOR HOUSING

Greymouth Evening Star, 13 September 1934, Page 2

LOAN FOR HOUSING

A DUNEDIN PROPOSAL. [PEB PBESS ASSOCIATION.] DUNEDIN, September 12. At the Dunedin City Council tonight, the Mayor, Rev. Mr Cox, presented a motion asking that: (1) The Finance Committee of the Council be requested to report upon a proposal to raise a loan of £lOO,OOO at 31 per cent, for the purpose of erecting 200 houses on sites that are already owned by the corporation. (2) That the Unemployment Board be approached to grant a subsidy at 12 per cent, on the cost of erection. (3) —That the houses should be erected for approved purchasers, who would be charged 4 per cent, and 21 per cent, sinking fund on the cost of the houses and land; the J per cent, additional interest charged to form a fund to meet any liability arising from any loss. (4) —That houses be supplied with electric light, heating and cooking appliances, and that a flat rate be made for the electricity of four shillings weekly. A brief discussion followed, and the motion was carried. It was pointed out during the discussion that a previous venture of the City Council in building houses had proved a failure. Cr. Shacklock stated that if they sold their gas or their electricity except through a meter, the council would find it a disaster. ■ „ Cr. Mclndoe said that he had received figures from Christchurch showing that tenants under a scheme there were behind in their rates and in the cost of repairs, and that there were a number behind in the rent. More than one Councillor expressed curiosity as to where the Mayor was to find his 200 sections in the-city on which to build houses. The Mayor said it was anticipated that they would receive £50,000 to £60,000 from the sale of these sections, and that the general rates, as a result, would be lowered. It also was anticipated that the consumption of electric power would represent a fair amount per annum.