City to Lend Money To Private Builders; CITY WILL FINANCE PRIVATE BUILDING
Controller Gerosa repts loan applications for bldg middle-income apts being processed; sees 1st project begun in summer; NYC to barrow funds on own credit at lower interest rates, make service charge of 1/2%; developers to get 40% tax abatement for 30 yrs; M A Procaccino directs program
