LOANS FOR HOUSING

Otago Daily Times, Issue 23370, 9 December 1937, Page 12

LOANS FOR HOUSING

EXTENSION OF CONCESSIONS INCOME LIMIT ABOLISHED EASIER TERMS TO EMPLOYERS (From Our Parliamentary Reporter) WELLINGTON, Dec. 8. Extended financial provisions with regard to housing schemes are contained in the State Advances Corporation Amendment Bill which was introduced by Governor-General s Message in the House of Representatives just before the adjournment early this morning. In the first place, the Bill extends the definition of a local authority to which the corporation may make loans for the purposes of erecting workers’ dwellings. Another clause provides that bonds, stock, or other securities issued by the corporation and guaranteed by the Government are tc have the same standing for investment purposes as New Zealand Government securities. The most important provision removes the income limitations of persons qualified to acquire dwellings by sale or lease under the Housing Act.

Previously, no person was qualified whose income from normal sources exceeded £3OO a year, with an additional £2O for every dependent person over two. The amendment makes it deal that in future any person approved for the purpose by the Board of Management of the corporation will be regarded as competent to acquire a dwelling. The corporation is also empowered to erect on any land set aside for housing purposes shops, libraries, public halls, and public buildings which may be required to provide necessary social amenities in any particular district. The Minister of Finance Is to be given full authority to determine the conditions of lease for all houses erected under the Housing Act after March '3l, 1937. Extensions are also to be granted in the making of loans to employers who propose to erect woi’kers’ dwellings. Previously, such loans were limited to 75 per cent, of the value of the security, but the Bill proposes to extend this limit to 90 per cent. After a brief explanation by the Minister of Finance (Mr Nash), the Bill was read a first time. FIRST BALLOT IN AUCKLAND TWO THOUSAND APPLICANTS (Special to Daily Times) AUCKLAND, Dec. 8. With possession obtained to-day by the Government of the first 12 houses completed under the State scheme at Orakei it is anticipated that the successful applicants for the tenacy of these buildings in Coates avenue will move in towards the end of next week. A further 60 houses, to which the finishing touches are being applied, will probably be occupied as they become available at the rate of three a week. The selected tenants will be advised within a few days that the first houses are ready for occupation. Of the 2000 applications for tenancy received at the Auckland office of the State Advances Corporation a considerable proportion asked for houses at Orakei. All of these people were visited by interviewing officers, and reports were forwarded to the Housing Department in Wellington, pointing out the needs of each family and their desirability as State tenants. The most urgent cases participated in the first ballot which determined the selection of the occupants of 12 houses now available.