The Problems Encountered by Private Urban Renewal: The Case of Yung-Ho District, New Taipei City
Date Issued
2015
Date
2015
Author(s)
Hsu, Li-Fang
Abstract
The government has carried out the urban renewal policy for several years, and it regards the urban renewal group as main land policy. However, there are fewer applications from private group to organize the urban renewal. The reason comes from the information asymmetry among stakeholders, such as land owners, the government, contractor, resident householders, even banks, which addressed as transaction cost or agent problems. Thus, this study is based on Agency Theory and through reference analysis, case study and theory analysis and take a case of Yung-Ho Distance in New Taipei City for example, to discuss the relationship among the land owners, renewal group and other participating stakeholders to define clearly the information and agency problems of the urban renewal group. This study also provides some suggestions to be the reference resources of the stricken households in the future. In practice, most urban renewal projects are mainly implemented by right transfer or joint construction by agreement. This study focused on the right transfer to analyze the benefits distributed among stakeholders based on financial evaluation. The cost-benefit analysis shows that self-renewal is the best way of implementation in terms of cost advantages, followed by contract construction and joint venture construction. After considering the trustworthiness and incentive mechanism among land owners, residents, and contractors; we find that with the help of a professional contractor as an agent, urban renewals are more likely to be implemented rapidly and successfully. This study also provides the analysis of stakeholders’ role, and comes up with some suggestions to urban renewals.
Subjects
urban renewal
transaction cost
agency theory
right transfer
cost analysis
Type
thesis
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