An Evaluation Model of Floor Area Incentive for Urban Redevelopment Projects
Date Issued
2010
Date
2010
Author(s)
Lin, Mei-Hsu
Abstract
Floor area incentive (FAI) is an important tool promoting urban redevelopment. However, ignoring the difference between areas in distinct local conditions, the existing FAI calculating methods for urban redevelopment are inflexible. To make up the deficiencies, this thesis proposes a flexible and reasonable FAI calculating approach that which maximizes the social benefits (for each FAI) while considering both financial incentives for related real estate developers and living environmental improvement for communities. Assuming that the financial information and environmental improvement benefits are given for each case, the proposed approach maximizes the efficiency (the social benefits for each FAI) by minimizing the necessary social costs (FAI) to obtain a reasonable FAI (for the case) for reference in project review.
This thesis takes the "Incentives for The Developers of Urban Redevelopment to Participate in Environmental Improvement Projects ", of Taipei City as a case study. The objective is to minimize the social costs that which are necessary for promoting the developers to improve environment quality. Besides, assuming that constructing a new park can improve the environment quality, this thesis measures the environmental contribution by means of hedonic prices around the new-constructed park.
Through the case study, it is found that the environmental contribution of urban redevelopment plan in the Shilin District (the high green ratio area) is relatively low of 111.18% and the FAI slightly increased from 16.96% to 18.83%.
Development of the evaluation model of this thesis is different from the traditional calculated method that which has fixed FAI. By adding the environmental contribution factor to adjust the FAI, as well as greater flexibility and broader perspective, it is able to maximize the effectiveness of the FAI. Through the assessment of the future model, FAI incentives to promote the effectiveness of policy and efficiency can be better achieved. In this study, the main findings are three: First, development of an evaluation model of FAI to promote both the effectiveness and efficiency of the projects; Second, environmental contribution for high and low green cover areas are found different incentive effects and to derive relative reasonable FAI; Third, the evaluation model can be useful for "Incentives for The Developers of Urban Redevelopment to Participate in Environmental Improvement Projects" as a reference.
By now the evaluation model is only a single objective function, the main parameters based on the financial data of the urban regeneration plan, it is suggested that multi-objective function could be established to solve the conflict problems in the future in order to minimize the social cost and to maximize social or environmental improvement benefits at the same time.
Subjects
Urban Redevelopment
Floor Area Incentive
Evaluation Model
Type
thesis
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