Cabinet approves changes to accelerate urban renewal

On Thursday, the Executive Yuan approved a draft amendment to the Urban Renewal Law (都市 更新 條例) that would simplify procedures that allow local governments to demolish dangerous buildings, and provide incentives for a higher floor area ratio to encourage rebuilding of old buildings and accelerate urban renewal.

After the catastrophic earthquake 921 of 1999, the Ministry of Interior said, the government amended relevant regulations to raise building design standards to improve their earthquake resistance.

Government data showed that before the revised regulations went into effect in December 1999, there were more than 36,200 buildings at least six stories high that did not have adequate earthquake resistance.

The ministry said the large number of dangerous buildings makes it difficult to coordinate work between owners and push building renovation projects forward.

To encourage the reconstruction of such buildings, the ministry drafted an amendment to the urban renewal law that would increase the proportions of the floor area – the ratio of the total floor area of ​​the building to the size of the plot of land built – to reach 130 percent of its original proportions to the developers of these renewal projects.

He added that the proposal would be submitted to the “Legislative Yuan” for review.

Previous amendments to the Urban Renewal Law that came into effect on January 30 of last year stipulated that homeowners who participate in urban renewal projects and do not sell their new homes within a certain period of time are entitled to a 50 percent reduction in the housing tax, the ministry said .

Renovation projects will also be granted an increase of up to 50 percent of the original floor area as an incentive for homeowners.

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