Gov`t to Promote Urban Renewal Projects Comprehensively

Taipei, (CENS)--To inject fresh vitality to urban areas and stimulate economic activities, the government will actively promote urban renewal projects throughout the island, via the input of NT$18.4 billion in the next four years and the incentive of floor-area ratio, according to the “action plan for the urban-renewable industry,” scheduled to be passed by the Executive Yuan (the Cabinet) at its regular meeting this Thursday (Nov. 24).

Under the plan, buildings more than 20 years old can be rebuilt at the same floor-area ratio, even if it is higher than the existing legal standards. A 20% markup in floor area ratio will be provided to green buildings or buildings featuring anti-earthquake function, the adoption of green materials, barrier-free environment, or energy- or water-conservation.

A subsidy of NT$20,000-30,000 subsidy per household, at the maximum 45% of the total cost, will be available for the planning of housing renovation projects, including the facial rejuvenation of old buildings, green beautification, and the installation of barrier-free facilities and elevators.

Via such incentives, the government aims to achieve the completion of 15 government-dominated urban renewable projects, assistance for the execution of 100 private sector-dominated projects, 150 projects engineered by communities themselves, and the renovation of 100 old apartment buildings in four years throughout the island, breaking the confinement of urban renewable projects to urban areas in northern Taiwan featuring high housing prices at present.

(by Philip Liu)