HOUSING LOANS
CITY COUNCIL’S APPLICATION DECLINED BY BOARD (Per United Press Association) WELLINGTON, Dec. 22. The Wellington City Council’s application to the Local Government Loans Board for sanction to raise a loan of £50,000 for housing and another of £ 10,000 for the renovation of houses has been dealt with by the board and referred back to the council The letter, which was received at a meeting of the council to-day, stated that the board did not consider that the loans in question came within the scope of the Government’s housing policy under which the money was being made available to local bodies at an interest rate of 3 per cent.
The decision of the board was regarded by the council as unsatisfactory and, after some discussion on the merits of the council’s housing scheme, which provides for financial assistance to be given to enable houses to be built on land purchased either privately or from the council, it was decided to approach the board again and also the Minister of Finance (Mr Walter Nash).
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Bibliographic details
Otago Daily Times, Issue 23690, 23 December 1938, Page 7
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174HOUSING LOANS Otago Daily Times, Issue 23690, 23 December 1938, Page 7
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