A General Counsel Team Will be Entrusted to Assist in the Development of the C1D1 Case
In order to improve the transparency and performance of land development tasks, Taipei City Government has recreated a new, fair, and reasonable land development system and standard operating procedures (SOP) for the consultants' assessment to develop financial benefits and research reasonable investment conditions prior to investment. Taipei City Department of Rapid Transit Systems will propose budget NT$40 million to entrust a general counsel team to provide professional consultations in accordance with the new land development system and in conjunction with the West District Gateway Project in order to assist in the handling of selecting investors for the C1D1 development project.
DORTS explained that the C1D1 development case is a jointly developed structure with station A1 of the Taiwan Taoyuan International Airport Access MRT System. Station A1 will feature the functionality of both international passenger boarding and intermodal MRT transfers to Taiwan High Speed Rail (THSR) and Taiwan Railways (TRA). Based on the particularity, complexity, development scale, and even future business model planning, an international tender for the selection of investors will be applied, and the standard international investment methods are different from the scale and investment experience of DORTS' existing joint development bases. DORTS' professional general counsel team has been commissioned through open selection for its international investment experience to assist in finding investors for the C1D1 development case. The commissioned task services include legal, financial, land administration, real estate development, and real estate management services with content including comprehensive development of case conditions, the real estate market development trends, integration with the surrounding environment of the West District Gateway Project, evaluation of development methods, proposal of minimum landlord ratios, project cost estimations, preparation for Chinese and English selection documents, investigation and providing the potential investors, the convening of public hearings, assisting government agencies with the handling of eligibility criteria, and determining optimal applicants.
DORTS stated that in order to cooperate with Taiwan Taoyuan International Airport Access MRT System operations, for the C1D1 development plan DORTS North District Project Office has completed four underground and two above-ground levels of the joint development structure (station A1 and a high rise development). Future investors are credited and included in the development costs for the funding of this portion of the project (approximately NT$ 7 billion) for access to the floor areas. In addition, the public has concerns that a portion of the area is being produced by the Kuomintang Party. Because the 37 land lords only account for approximately 18.35% of the area with the rest owned by the city government and only one of the landlords are involved with the Kuomintang Party production, they have all signed contracts to participate in land development with DORTS. This stage does not involve property disposal, and once development of the high rise is completed (in approximately five to six years), it will be handled in accordance with the relevant laws and regulations. Because the C1D1 development case is the highlight of the Western District Gateway Project, the Taiwan Taoyuan International Airport Access MRT System will soon be opened to the public, and it involves numerous public and private landlords, the task of selecting investors should be carried out in prompt manner.
DORTS emphasized that in order to seek out the greatest public welfare and to promote the overall economic prosperity of Taipei City, "processing recommendations for landowner and Taipei City Government relations" should be made by the future general counsel team of this phase of the work plan. Furthermore, for complete land use and environmental improvement it should be carried out in cooperation with the West District Gateway Project so as to maximize the effectiveness of overall land development.