announces a partnership deal with a local city council to develope affordble housing projects for locals,
local council announces it is the owner of a 'not for profit company' that will oversee the $300,000,000 project that intends to build 400 homes at $220,000 sale prices, on 700m2 allotments.
at 7.1% current interest rate through local finance company Tassie home loans repayments will be as low as $285 per week, excluding Land tax $700, water rates $800, council rates $1000,
it remains unclear if purchases can be made by non state residents or by investors.
exactly how does a local coucil 'own a not for profit company'? cam anyone enlighten?
isn't a company by registration a profit generating entity?
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