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Cabinet passes urban renewal action plan.

Taipei, Nov. 26, 2010 (CENS)--To inject fresh vitality to urban areas and stimulate economic activities, the government will start pushing the reconstruction or renovation of old buildings via subsidy and the incentive of floor-area ratio, according to the "action plan for the urban-renewable industry," passed by the Executive Yuan (the Cabinet) yesterday (Nov. 25).

The plan calls for the appropriation of NT$18.4 billion budget during a four-year period, mainly for the subsidy of NT$20,000-30,000 per household, at the maximum 45% of the total cost, for the planning of reconstruction of houses over 30 years old or the renovation of houses over 20 years old, including facial rejuvenation, green beautification, and the installation of barrier-free facilities and elevators.

The plan will give local economic activities a shot in the arm. Statistics of the Ministry of Interior (MOI) show that local buildings aged over 20 years number 4.8 million, including 3.02 million aged over 30. The reconstruction of the 3.02 million 30-year or older buildings will entail production value to the tune of NT$7,267.2 billion, or NT$242.2 billion annually over a 30-year period.

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. The installation of elevators can be excluded from the tally of floor-area ratio. 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.

The urban renewable projects, however, must reach a minimum scale, which is set at 2,000 square meters for the base area in Taipei City.
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Author:Philip, Liu
Publication:The Taiwan Economic News
Article Type:Brief article
Geographic Code:9TAIW
Date:Nov 26, 2010
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