Council underwrites housing bond issue

Dec 4, 2014 | News

The council’s development committee voted 14-5 yesterday to guarantee 20 per cent of the bond issue, or $6 million.

The guarantee will allow community housing providers to borrow on more favourable terms, reducing the costs of homes by between $6000 and $8000.

Councillor Cathy Casey said the move would grow the community housing sector and “give them wings to fly”.

Read the full article in the NZ Herald here

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