AbstractThe goal of Urban Renewal policy is to promote urban functions, improve urban living environments, and to increase public welfare facilities. In recent years, especially in Taipei city, there is a growing trend in the private application cases of urban renewal project; the floor bonus is the major incentive to this kind of project; to looking after both sides of efficiency and public interest, the degree of floor bonus is taken by the investing in the public welfare facilities. However, the investing in the public welfare facilities and the value of urban project are truly reflecting the public interest? The profit of the floor bonus in urban renewal projects are in a reasonable rate? In the best return standards, the urban renewal project investors invest how much in the public welfare facilities? This paper is using the viewpoint of real options to evaluate the investing in the public welfare facilities and its return, and recommendations.
This paper well introduce the floor bonus system in urban renewal in Taipei, and using the viewpoint of real options to evaluate the development value of urban renewal area, to clear up the uncertain of the management flexibility and timing defer when using the net present value rule which is the main method to evaluate this kind of project in Taiwan. And then, choose the Taipei City as a positive area, to evaluate the investing in the public welfare facilities and its return in urban renewal project, try to find the best rate of investing in the public welfare facilities, and using the result to evaluate does the system achieve the goal of policy.
|Date of Award||2011|
|Supervisor||Tzu-Yuan Chao (Supervisor)|