HOUSING LOANS ALL TAKEN UP.

Star (Christchurch), Issue 17831, 27 April 1926, Page 12

HOUSING LOANS ALL TAKEN UP.

COUNCIL HAS ADVANCED THE SUM OF £SOOO. To the present all the advances for house erectiqn authorised by the Christchurch City Council have been taken up, and £SOOO has been put out on loan. A statement of the work *of the. Housing Committee was given by the chairman, Councillor D. G. Sullivan, M.P., at last night’s meeting of the City Council; in reply to a question by Councillor Cvde Carr. Councillor Carr asked whether all the money obtained in loan had been taken up by applicants: whether any of the houses, in respect of which loans were granted, were already built; if any further applications had been received and not dealt with; and whether it was proposed to borrow further sums for the purpose of housing. Councillor Sullivan replied that twenty-one advances had been authorised and all had been taken up. Up to the present nineteen advances had actually been made, and the total amount advanced was about £SOOO. j Some of the houses had been complet--1 ed and the purchasers living in them, and one of the tenants had asked him to convey to the council the thanks of himself and his wife for giving them an opportunity of getting a home of their own for the fir.st time since they were married. At the present time, Councillor Sullivan added, only about £27 had not been appropriated. The question of \ borrowing further money would be considered in the future. Already he

had made inquiries among Government Departments as to whether any money could be obtained, and he had received an offer of a sum at 6 per cent with a sinking fund of 1 per cent. This would enable the council to make terms with the applicants on the same basis at at present. He proposed to call the committee together in about a fortnight’s time. There were about twenty applications in hand at present.