A non-profit housing group will learn tomorrow if it can borrow 2.8 million dollars for a central Christchurch development
A non-profit housing group will learn tomorrow if it can borrow 2.8 million dollars for a central Christchurch development
11 November 2020
The Otautahi Urban Guild has applied for a loan from the city council to buy a Crown-owned site opposite Latimer Square.
It wants to build about 200 eco-friendly homes.
The council will discuss the loan at a public-excluded meeting - but staff have recommended councillors decline the application.
There's been little interest for houses and officials aren't convinced the money will be repaid.
The guild has already borrowed 450 thousand dollars from the council.
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