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Digital Provenance
Digitized materials: physical originals can be viewed in Special Collections and Archives reading room
Publisher
University of Nevada, Las Vegas. Libraries
Transcription
Memorandums Mr. 0 A. Bell, who, together with hie Phoenix associates, Intend to subdivide and develop the aoreage between Morth Fifth and north Main street, now under option to a local syndicate, called at the office this afternoon and stated that Federal Housing loans had been restricted, on orders from Washington, to the 600 houses to be built by McHsll Construction Company The application of loll and his associates was rirsv submitted through the bank, but for some reason was delayed sufficiently eo that the application of tho McMeil Construction reached the F. H. A. first. The ruling is that those applications will not bo pro-rated, but will be granted to the first party making application to build 600 houses, that is, tho MoWell Construction. If this “freeze out* is enforced, it will result in a monopoly for MoHell Construction and will prevent the development of the town in other direct Ions. It is suggested tho Water Company can prevent this by refusing delivery of its entire extra production to tho McNeil project and insist upon prorating to various developers and individuals who may wish to apply to F. H. A. A. M. F. Hqv. SI, 1941 t
