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How do you decide which sites along an MRT line are suitable for joint development. and what work processes do you need to go through? (Joint Development)

1. Given the land required for MRT construction, consideration must be given to construction site evaluations, relevant regulations and restrictions, benefits, urban development, and financial impact before proceeding to concept design and the forecast of financial returns.


2. When the construction project is set, the scope of land development and floor area ratio are submitted to DORTS' MRT Planning Coordination Group and the Taipei MRT Station Coordination Group for review. The proposed development project is then submitted to the Taipei City Government for approval and further negotiation with landowners before investors are sought.


(1) DORTS informs all owners of land planned for inclusion in MRT-associated development of the negotiated purchase agreements.


(A) Landowners who reach a negotiated settlement sign a sale agreement; an extra negotiation agreement should be signed by owners who agree not to receive compensation or any alternatives.


(B) Landowners who willingly give up their right for compensation or any alternatives can subsequently apply to own a portion of the public development. Those who are paid as part of the negotiated purchase agreement may apply for priority to buy or lease the development when completed. All applications for developed government assets should be submitted within two months after receiving the written request from DORTS.


(2) Investor recruitment: If the proposed land belongs to a single-owner, the owner has the first priority for investment; if the owner relinquishes this right, then a public request will be made for investment from individuals or private organizations. Those applying to invest in the development are required to have their qualifications, financial statement, and engineering and operating credentials approved. Then, the development portfolios drawn up by candidates are evaluated by relevant government agencies to single out a qualified investor, who then signs a joint development agreement of investment with the city government.


(3) A negotiation of equity allocation between the investor and the landowner (the government) is undertaken. The landowner's equity results should be submitted by DORTS to Taipei City Real Estate Property Committee for review and approval.


(4) According to the Construction Act, investors should proceed by first applying for a construction license, undertaking construction and then applying for an operations license; investors may also apply for financial aid during the process, if needed.


(5) If an MRT-associated development building is operated jointly by the government and a sole real estate corporate entity, an agreement should be signed between the corporate entity and DORTS. However, if a building is operated by multiple parties, a management committee should be organized based on the Condominium Administration Act Building Administration Division.


(6) Before proceeding to public tender, DORTS should submit the base price of the MRT joint-development building's floor area to the Taipei City Department of Finance for approval.