LOANS AT 4 P.C. FOR HOUSE REPAIRS

Hawke's Bay Herald-Tribune, Volume 81, Issue 51, 23 November 1937, Page 6

LOANS AT 4 P.C. FOR HOUSE REPAIRS

-Press Association.)

Government Aid for Auckland Property-owners SUGGESTION TO COUNCIL

(By Telegraph-

AUCKLAND, Last Nigbt. Tbe . possibility of advancing money to property-owners at not more than & per cent. for tbe purpose of eft'ecting lmprovements to dwellings wbicb are shpwn by tbe bousing survey to xequire renovation and repair was mentioned in tbe report of tbe property committee to tbe City Council. Tbe report stated tbat tbere was no doubt. a iarge number of properties would be found to xequire a great deal of attention to bring them up to a reasonable standard for living purpose's. It was also realised that many properfy owners would be nnable to afford tbo tbe cost of repairs, renovations and painting if they wero required to pay for them at once, and it was suggested tbe Government sbould be requested to advance money to them at not more tban 4 per cent. to carry out tbe work. Alternatively, tbe Government couldt lend money to tbe council on such terms as would enable tbe council to advance it to owners at 4 per cent. or under. "Sbould tbe Government approvs tbe suggestion, but be of opinion tbat tbe scheme could be more xeadily band- ' led through local autborities, tbe report added, "it is suggested it sbould be requested to pass legislation authorising tbe council to advance moncv and enabling security for its repayment to be tbe first cbarge on tbe property." "It is a very iine suggestion, and tbe chairman of tbe committee is to be complimCnted on bringing it forward," said' tbe 'Hon. T. Bloodwortb, M.L.C. Tbe report was adopted.