Evening Republican, Volume 20, Number 118, Rensselaer, Jasper County, 17 May 1916 — City to Build Homes. [ARTICLE]

City to Build Homes.

The city of St. Joffn, N. 8., is preparing to enter the housing business for the benefit of the workmen of the city. The first step was taken at a recent meeting of the common council, when a bill giving the city the required power, was approved and ordered to be forwarded to the legislature. The bill gives the city power to expropriate lapds as they may be required and to erect houses suitable for the homes of working men. It pro- • vides for the Issuing of bonds to cover the cost of purchase and erection and sets forth an easy-payment scheme under which the properties may be a®* qulred by the citizens. The plan suggested Is a payment of 10 or 15 per cent of the ultimate cost when possession is taken “ond the balance to be paid in monthly installments, *uch payments to be arranged to include interest at 6 per cent on tho balance outstanding. " & ' v