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2018-09-03 16:50
Ratification of New Added Rules for the “Rules Governing Accelerated Rebuilding of Urban Dangerous and Old Buildings” after Three Readings to Speed up Financial Assistance to Reconstruction
Legislative Yuan on 11th ratified newly added Article 10-1 of “Rules Governing Accelerated Rebuilding of Urban Dangerous and Old Buildings” and released financing limits imposed by Article 72-2 on commercial banks. According to Ministry of the Interior this amendment will put more subsidies and professional assistance in the rebuilding process of urban old and dangerous buildings to achieve promotional goal of policies. Ministry of the Interior gives full supports.

Taiwan’s population and buildings are quickly aging and there are potential risks of earthquakes; both government and the people are facing these common challenges. These are also serious issues that the Ministry of the Interior continuously is concerned and tackles with great efforts. Hence, the Ministry of the Interior enacted the “Rules Governing Accelerated Rebuilding of Urban Dangerous and Old Buildings” to encourage reconstruction and proposes four subsidy incentives.

First, for those who propose to reconstruct within three years, the highest 1.4 times of Building Bulk Ratio would be granted.

Second, the simple procedure is established for city and county governments to evaluate applications within 30 days to release quick evaluation outcome.

Third, reduced taxation burdens for reconstruction is provided, for example, tax exemption of land and housing taxes during reconstruction, half taxes paid for land and houses respectively for two years after reconstruction or 12 years, the longest years, after reconstruction.

Fourth, financial assistance is provided by the Central Government for seismic evaluation and reconstruction as well as credit guarantee for reconstruction loans. Cooperating with public banks, the “Taiwan Joint Financial Services Corp. for Urban Regeneration” was established to assist reconstruction of more dangerous and old buildings.

Since November last year (2017), local governments continuously began proceeding reconstruction application projects filed by the public. Until now, 23 projects were received and 11 were approved. The people actively participated in reconstruction and continuously increased their confidence.

The Ministry of the Interior emphasized that reconstruction of dangerous and old buildings requires the participation of financial system to provide sounder promotional system. In addition to the lift of Article 72-2 about loan ratios of commercial banks, the Ministry of the Interior planned the establishment of “National Residential Housing and Urban Regeneration Center” in August this year (2017) to work with the built “Taiwan Joint Financial Services Corp. for Urban Regeneration” through cooperation with public banks and coordination with in-depth participation of financial institutions to develop more trustable, professional, and strong supportive system to allow the people and professional constructors to have more confidence in reconstruction of dangerous and old buildings.

Ministry of the Interior added that “Rules Governing Urban Regeneration” is the last piece of three acts of urban regeneration and the Commission of Internal Affairs of Legislative Yuan initially approved the amended draft and on May 10, negotiation for approval was successfully completed by all parties. The draft was expected to complete its third reading during this legislative meeting. Key points of amendment contents include clear building buck ratio for encouragement and simplified procedure to avoid uncertainties during evaluation processes and to encourage the implementation of urban regeneration. Additionally, to improve confidence in urban regeneration, “3+1” procedure was adopted to link up urban planning, hearings for dispute cases, urban regeneration evaluation and negotiation improvement so as to allow open and transparent processes.

For the Urban Regeneration Office, in addition to establishment of concrete mechanism for public participation, the government shall shoulder more responsibilities for leading large-scale urban regeneration for public land. The Central Government first set up the “National Residential Housing and Urban Regeneration Center” to bring more energy for the government to promote urban regeneration. In the end, more financial assistance is provided and Urban Regeneration Fund is able to provide guarantee mechanism to lift loan limits of financial institutions on capital required for urban regeneration.

Ministry of the Interior emphasized that the success of urban regeneration relies in “overall mobilization.” The Central Government cooperates with local governments and at the same time, professionals such as architects, appraisers, administrators of land affairs shall engage with community residents. After the ratification of the Rules Governing Urban Regeneration, the Ministry will work with city and county governments to directly talk to the people. We will realize our dream together. (Link to the Film –Stories of Regeneration)

Stories of Regeneration
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