TRUST LANDS TRUST

Wairarapa Daily Times, 13 October 1933, Page 3

TRUST LANDS TRUST

MONTHLY MEETING. The monthly meeting of the Trust Lands Trust was held last night. Mr IT. F. Watson presided. Other Trustees present were Messrs R. Krahagen, A. Owen Jones, J. L. Hughes, J. Macfarlane Laing, E. G. Eton and D. Caselberg An apology for absence was received from Mr L. J. Taylor. The chairman intimated that the committee appointed at last meeting to prepare a report in respect to scholarships for the High and Technical schools had not yet met the respective principals. It was intended, he said, to have the report ready for next month’s meeting of the Trust. An application for a special grant to enable a student to take a commercial art course in Wellington was received. The application was referred to the Education Committee for a report on the motion of the chairman. Routine business connected with lease renewals of shop premises was transacted. Two applications for renewals of leases were referred to the Building Committee. The tender of E. A. Tozer of £lO 10s ior the purchase and removal of the old engine room shed at the rear of the Opera House was accepted. Seven tenders were received. A credit balance of £1584/3/6 over the three accounts was disclosed in the treasurer’s report, which was adopted. Accounts amounting to £241/17/4 were passed for payment. Rentals received for the month amounted to £289/14/6. BUILDING SCHEME. A letter was received from the Local Government Loans Board in reply to the Trust’s application.for authority toraise a building loan of £IO,OOO. It was noted, the letter stated, that £SOOO was to be allocated to dwelling houses and £SOOO to business premises and that sanction was desired for the whole amount, although the intention of the T-rust yvas to erect houses only in the meantime. Section 5 (2) of the Loans Board Act provided, however, that certain investigations into the merits of an application must be undertaken by the Loans Board and it was not feasible to do that in respect of the business premises portion of the loan application unless plans and specifications were submitted. If the Trustees preferred not to go to that expense in the meantime, it was suggested that the loan proposal be reduced to £SOOO for dwellings only, consideration of the balance to be taken up again at a later date. An inquiry was made as to whether tenants were definitely available for all or any of the houses proposed to be built and for a copy of the annual accounts of the Trust as at 31st March, 1933. The Trust secretary (Mr VY. LYates) reported that lie had replied stating that it was the intention of the Trust to erect houses only in the meantime, for which purpose a sum of up to £SOOO would be utilised. Suitable tenants would be available for the dwellings as erected and applications had already been received from residents of high standing in the town. No difficulty was anticipated in letting the houses to very suitable tenants. In regard to the question of the £SOOO for business premises, it was pointed out that the Trust had certain vacant lands adjacent to the main street, in the centre of the town. There had been some negotiations with prospective tenants as to the building of business premises on these lands, but nothing definite had yet resulted. Although the Trust was not proceeding with the building of business premises in the meantime, it was applying for authority to raise £IO,OOO for the following reason:—To save the expense of a further poll; to save time and the possibility of losing prospective tenants through not being in a position to proceed with the erection of business premises without considerable delay. The Trustees do not wish to incur the expense of plans and specifications foi business premises, as they wish to be in a position to erect premises to the requirements of approved tenants. . It was suggested that the board might make a stipulation that the sanction of the board to the raising of the £SOOO for business premises could be subject to plans and specifications of these premises being submitted to the board for its approval before any such buildings were commenced or steps taken for the raising of money for the purpose of their erection.