WORKERS’ DWELLINGS

Timaru Herald, Volume CXLII, Issue 20505, 25 August 1936, Page 4

WORKERS’ DWELLINGS

STATE ADVANCES SCHEME The Timaru Borough Council has received the following communication from the State Advances Corporation in regard to workers’ dwellings:— "It is desired to draw the attention of your Council to the provision made in the State Advances Corporation Act, 1936, empowering the Corporation to make loans to local authorities in connection with workers’ dwellings. 5.28 of the above Act reads as follows: Loans to Local Authorities for workers’ dwellings—(l) For the purpose of this section the term "local authority” means a local authority within the meaning of the Local Bodies Loans Act, 1926, and includes a Harbour Board. (2) Lx addition to the powers conferred on it by the principal Act or this Act, the Corporation is hereby empowered to make loans to local authorities for the acquisition of land as sites for workers’ dwellings, for the erection of workers’ dwellings, or for any other purpose in relation to workers’ dwellings. (3) Nothing in this section shall be construed to extend the powers of any local authority to borrow moneys or to limit the powers of the Corporation to invest any of its funds in debentures, stock or other securities of local authorities.’ “Tile State Advances Corporation would be glad to have some Indication from your Council of its intentions with respect to the erection of workers’ dwellings, particularly if there is in contemplation the submission of an application for a Ipan from the Corporation under the above section. As you are aware, the requirements of the Local Government Loans Board, 1926, would have to be complied with befc-re an application could be dealt with by the Corporation. “The Board of Management lias in view the provision of the necessary finance to meet the possible requirements of local bodies under the above section and if some indication by local bodies could be now given the Corporation would be assisted in its own arrangements. The terms of loans from the Corporation would necessarily be dependent to some extent on the terms upon which local authorities would be authorised to borrow, but it is hoped that any loans granted by the Corporation to local bodies will be upon terms at least as favourable as the present market rate for local body loans. “Will you kindly bring this request before your Council at a convenient date and favour me with your reply at your early convenience. If your Council intends to proceed with a housing scheme, it would be appreciated if you would indicate in your reply:— (a) An estimate of the amount that would be involved, (b) The approximate date when loan money would be required. When supplying the foregoing information, it would be appreciated if you would indicate the action taken by your Council under the Housing Survey Ac , 1935 (provided that the Act applies to your Council), in the direction of making a housing survey in the district controlled by the Council. If such a survey has been made, the Corporation desires to obtain full information in regard thereto.” The Town Clerk was instructed to report to the Council on the matter.