The Executive Yuan on Thursday approved draft amendments to the Urban Renewal Act and the Statute for Expediting Reconstruction of Urban Unsafe and Old Buildings. Proposed by the Ministry of the Interior, the amendments aim to ease housing pressures, strengthen housing support for people of all ages and foster a friendlier environment for raising children. The draft amendments will now be submitted to the Legislative Yuan for deliberation.
Premier Cho Jung-tai said that as many as 60% of Taiwan's buildings are now aged 30 years or older, and that the demand to rebuild unsafe and old buildings continues to grow. He pointed out that the proposed amendments to the Statute for Expediting Reconstruction of Urban Unsafe and Old Buildings primarily remove the sunset clauses governing applications for reconstruction plans, thus enabling such redevelopment to continue as standing policy instead of a temporary measure. The amendments also increase floor area ratio incentives for social welfare facilities, as well as for social housing units reserved for newlyweds and parents of young children, helping to reduce young families' burdens while achieving the policy goal of improving residential safety.
Regarding the Urban Renewal Act amendments, the premier highlighted three key changes: (1) expanding the autonomous urban renewal model by allowing property owners to lead renewal projects and engage organizations that provide comprehensive project management services; (2) increasing floor area ratio incentives for private-sector urban renewal projects that contribute social housing units with priority access for newlyweds and parents of young children; (3) and establishing a credit guarantee mechanism for autonomous urban renewal projects, with credit guarantees provided by competent authorities at all levels to encourage greater public participation in such projects, as well as to accelerate the expansion of housing supply for newlyweds and parents of young children.