Page:Municipal Handbook of Auckland 1922.djvu/128

 At the time of embarking upon the scheme, it was anticipated that the sale of properties, after the improvements had been completed, would practically reimburse the cost of acquiring the property and carrying out the improvements. But owing to the long duration of the war, and the unsettled conditions which have succeeded it, it was found that the interest charges on the large amount of capital sunk in the undertaking would prevent this expectation being realised, and £100,000 of Loan money has been raised.

The improvements are, however, of so important a character that the work is fully justified, and it is probable that the increased ratable value of the properties will enable the Council to meet the annual capital charges in connection with the scheme.

Important improvements, with the co-operation of the Auckland Harbour Board, have also been effected on the water-front, the principal one being the widening of Customs Street West and its continuation (Fanshawe Street) to and past the north of Victoria Park, as a 100-foot wide street.

The works carried out include the erection of three reinforced concrete retaining walls, aggregating a total length of 1,775 feet, the construction of a high and a low level road, each 80 feet wide, between Albert and Nelson Streets, and an inclined roadway, 20 feet wide, connecting them at the Hobson Street intersection.

Lower Hobson Street, from the low level road to the wharf, was also widened to 100 feet, and a graded