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What is land development? Why is land development necessary? What are the procedures for land development?
I. What is land development:
Similar to civic cases of land cooperative construction, where the land owner provides the land, investors provide the construction capital, and the government provides for reward volume based on MRT system land development regulations to carry out development of MRT stations, sites, and adjacent land under the supervision of the land development authority (Taichung City Government). After development is complete, the developed structures are jointly distributed based on the owner’s land value, investor costs, and reward space input by the government.
II. Reasons for administering land development:
1. Effective usage of land resources. If only for the sake of obtaining necessary facilities for the MRT to construct buildings with 2-3 floors, the top level emptiness would not maximize benefits from the land resources.
2. Provide land owners with- an alternative to expropriation compensation to establish cooperative development models.
3. Save government funding on land expropriation, and use development profit feedback to support MRT construction funding and operational costs to lessen the financial burden on the government.
4. Positive guidance of civic capital to establish regular investment channels.
III. Procedures for land development:
1. Base selection → modify urban plans → establish land development content, scale of architecture, documents on the distribution of rights and benefits, selection documents → hold land development coordination meetings with land owners → the land owners consent to participation in land development → sign contracts on joint development of land → single-land owners have priority investment / public solicitation of investors → sign investment and development contracts → conduct development →registration and handover of the property.
2. If land owners are not willing to participate in land development, the authorities may negotiate a purchase according to regulations. If the negotiations fail, then it is reported for legal expropriation.
UPDate Time2012-10-29 AM 10:57:45
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