Winnipeg Free Press

Winnipeg Free Press (Newspaper) - October 31, 1981, Winnipeg, Manitoba 8 Winnipeg free october 1981 a Tyne Glowack Winnipeg free pbes8 i 11 r i j nip Leader Howard Pawley hears homeowners grievance at an election meeting last night in Tyndall tories unable to keep Sanders alleges nip candidate David the top provincial bureaucrat in the draft ing of the Core area development says Many of the blueprints promises will never be kept if a tory govern ment is nip candidate in River Heights and assistant Deputy minister of Urban said yesterday the government is incapable of the administrative initiative needed to properly implement the million the Core area agreement has but that Doest mean it All cd Hie together unless the prov Ince gets Sanders said in an after a four party debate on Urban held yesterday at the of Sanders said the conservative government Doest believe in delivering services and wont be Able to Cope with massive administrative demands of the the Lyon government wanted to escape responsibility for coordinating provincial programs and services with so it dismantled the staff of the Urban affairs he Liberal Leader Doug and progressive Leader Sid Green joined in criticizing the conservative government for allegedly Dis playing indifference and incompetence in Urban this administration has abdicated its responsibility for providing any provincial any Urban thinking or Green he cited the governments move to Block funding instead of providing Grants for civic projects As an example of its distaste for Urban Urban issues Haven been the focus of this government Lauchlan he said some areas of the City face major difficulties and the problem rests with the it should take the initiative to make solutions Hap Lauchlan said when the province drops its interest in the it risks losing Federal funds for Urban pro Urban affairs minister Gerry Mer Cier denied that the province had abandoned the City and cited the administrations role in the Core area plan As an example of its he also pointed out that the province is involved in developing a corridor of Parks along the red River and will continue to participate in civic projects in the new Bank to save Homes suggested the Manitoba progressive party says it could save thousands of Home owners from mortgage foreclosure through creation of a provincial Bank that would lend Money at half the current the proposed Bank would borrow Money in foreign markets at eight and half per cent and lend it to Manitoban at less than 11 per Murdoch progressive Candi Date in said 1 canadians borrowed billions of Dol Lars in offshore Low interest Money in the first nine months of this but it seems that none of this Money went to save canadians from losing their Mackay he insisted the idea of a provincial Bank is not a Pierin Shesky but a feasible proposal based on the borrowing practices of numerous Cor we found that Manitoba own credit Union Central borrowed some millions of dollars to mortgage their new Winnipeg office they paid sevenans Dahal per cent off plus a Little less than Neanda half per cent to hedge the this Means they had Money for mortgaging their building at less than nine per Mackay added that Gulf Canada is now borrowing million at nine per cent on a 10year term from Manitoban love to have a for a mortgage at nine per cent he the proposed Bank could also expand to lend Money for various business projects in addition to financing Mort he where Are the leaders Sterling Lyon pc today attends breakfast with mennonite businessmen at 9 in the ramada 1824 Pembina then visits Norbert Campaign tomorrow flies to Ottawa to participate in the Federal provincial c6n Stith tonal returning Howard Pawley nip campaigns with candidate Elijah Harper in Rupert land con tomorrow scheduled to take the Day monday no schedule Doug Lauchlin lib today All Day in his Wolseley tomorrow open House at his constituency 116 Sherbrook from 79 then can Vasses in the constituency the rest of the monday meets voters at bus stops in his constituency from then at his constituency office from 910 will canvasses the rest of the then Back at the constituency office from Sidney Green Prog today attends an Al progressive candidate meeting Between 11 and then spends the rest of the Day campaigning in Ink tomorrow and monday no sched ule emergency fund to Aid Homeowner proposed homeowners caught in dire Straits because of spiralling mortgage rates have been promised Relief in the form of a emergency fund if the new democrats Are elected in Manitoba next nip Leader Howard Pawley told about 20 Tyndall Park homeowners yesterday if he would Call an emergency session of the Legisla Ture before Christmas to instigate the the fund would be set up Over the next year to subsidize monthly Mort Gage payments for Middle and Low income Manitoban who Are spending a major part of their income on mortgage and tax he after he said Hes counting on the economic predictions which suggest that interest rates should drop in Pawley also pledged similar pro Grams to help Farmers and Small businessmen and to introduce a debt moratorium act to be used on a standby basis should the interest rate crisis be come even More some remain sceptical but while the program is what Many Manitoban Are hoping to some mortgage lenders and real estate spokesman Are sceptical of the where is he going to get the Money asked Brian head of the mortgage Loans association of its a Stop Gap measure what happens if interest rates stay High its a vote getting Plum and that All it said Gordon presi election Dent of the Winnipeg real estate the problem cannot be corrected just he i dont believe in the current eco nomic system we can afford to give away anymore these Giveaway programs Are exactly what put us where we Are he Pawley said the million would come from provincial revenues just As we budgeted million for drought and Money for fighting he would not specify who would be eligible for the but did mention that those paying More than 30 or 35 per cent of their income would Likely he said the details would be contingent on what help is offered by the Federal government to Home owners in next months Federal Bud one financial expert contacted yesterday estimated that with monthly payments rising about a month at current Hawleys program might help about it might be he but admitted it would depend on How Many homeowners will be renewing their mortgages next seeks evidence while meeting with the homeowners Pawley hand evidence about the difficulties they were encountering which gave him the Opportunity to announce the he was told that for Many of mortgage payments have almost Dou bled because of High interest its said Ann a Tyndall Park resident who bought her House under the Federal governments assisted Home ownership program and whose mortgage payment is now expected to jump to from the program was designed to help modest income families handle their monthly mortgage costs for five years until their incomes but be cause of High mortgage rates the pro Gram leaving those like Brough with even higher its a traumatic she told she said Many Moth ers in the area Are being forced to leave their Young children to go out to i want to be Able to raise my family without having to work every hour of every she i came from England to get away from that and Ive run right Back into the same hell Damn thing i tried to get away she another Man told Pawley he had to renew his per cent mortgage this year at per his said his monthly payments jumped to from in paying and mine will go up Over when it comes due next said another Swail and Decka said Pawley will have problems deciding who is Eli Gible for the 1 dont know How you can decide who would qualify is he going to put everyone to a Means test he its a Nice but there Are complications that could evolve from said he said with insuring both the province and the mortgage youre looking at a real Legal Ron Vic chairman of the mortgage action a Home owners group battling to fight High in Terest rate said he was reluctant to comment for the committee on an election election time is such a difficult time for anyone to make any sense of what is going he i would personally appreciate the but i would like to see where the moneys going to come theres a lot of people who Are going to be paying for a lot of he Moscinski and Ron chair Man of the association for Relief of mortgage another homeowners both said High interest rates Are a National problem and have to be dealt with by the Federal in sceptical of the program be cause its an election Promise and i question the resources of a province like Manitoba to handle this Anderson the if history is anything to go in or around the year your Favourite restaurant May be charging for a hamburger based on a Burger today and an approximate annual inflation rate of 10 per year for the next Twenty this can pre sent a rather interesting Challenge to the average the trick is to take Steps today make sure the dollars you have 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