HOUSING SCHEME

Grey River Argus, 13 October 1936, Page 4

HOUSING SCHEME

FIVE MILLIONS OUTLAY Local Bodies to Share (Per Tress Association). AUCKLAND, October 12. Tlie anuouneeinent tliai. of the £5,000,000 whii-li the Government, proposes to borrow for housing £1,500,000 will be made available to local authorities during the next 12 months at 3 per cent, per annum, was made by the Minister of Finance. Hon. W. Nash, today. The loans mentioned, Mr Nash, added, would bo for terms of years to be arranged. Moreover, the Housing Department, under the charge of Mr .1. A. Loe, was working out the details of ti scheme that, would ensure that every possible facility was available to the local authorities undertaking the housln<f schemes, so as to enable them to obtain full advantages of the Government's housing proposals. A further statement with regard to the uia’.ter would be issued by Mr Lee at an early date.

Respecting thc £3,500.000 which would be the Government's portion of the £5.000,000 about to be raised, Mr Nash said that an endeavour would be made to spend it in the next 12 months and plans had been drawn up with, that purpose in view. The Government, he said, did not intend to make a profit out of the housing, but it wv.s confident that the charges would be met; that, there would be no lack of occupants for the houses that are comprised in the present plan: and that the rents would be considerably below those that are now charged for equivalent modern dwellings.

The proposed system of housing loans to the local authorities would enable the latter to proceed rapidly with approved building schemes in their areas, and it was hoped that they would participate fully in the task.