LANCASTER PARK.

Lyttelton Times, Volume CXXII, Issue 15558, 7 March 1911, Page 9

LANCASTER PARK.

CITY COUNCIL AGREES TO PURCHASE IT. OFFER OF £BOOO TO BE MADE. A brief discussion in committee of the City Council last evening culminated in the adoption of a proposal to purchase Lancaster Park if the ratepayers sanction tho raising of a loan for the purpose. Tho By-laws Committee reported that it had given the matter careful consideration, and obtained a report on and valuation of tho property. “The price suggested by the company,” tho report stated, is £IO,OOO for ground and plant, but the committee is of opinion that this is too high, and recommends that an offer of £BOOO bo made subject to the ratepayers sanctioning the raising of a loan of £IO.OOO for the purpose, the balance of £2OOO to be expended in carrying out necessary improvements to the Park: the cost of raising the loan to be paid out of the latter sum. The committee is of opinion that the Council should acquire the property if it can bo purchased at the price stated, especially as the company contemplates subdividing it into building lots if it does not receive assistance of some kind; and should the Council approve of tho proposal tho committee requests authority to enter into negotiations with tho owners of the Park.”

Tho report was considered in committee and was adopted without dissent.'