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The new regulation on the provision of city-owned real estate in Taipei City has come into effect, extending the duration of use to 5 years. The rental fees are now determined taking into account both financial benefits and public welfare.

On February 1, the Taipei City Government has revised and released the "Regulations of Taipei City Public Use City-owned Real Estate for provision." The key revision involves extending the contract period of use for city-owned real estate to 5 years. It further stipulates that each administration agency should consider factors such as market trends, consumer price index, and the intended usage in determining the rental fees. In cases where the usage serves public welfare and exhibits a public nature, the criteria for rental fee determination are more flexible compared to general cases. This ensures that city-owned real estate not only generates financial benefits but also encompasses a sense of public welfare.

Furthermore, in response to practical operations, this revision establishes private law contracts for the provision of city-owned real estate for public use, requiring notarization of the contracts. The costs associated with notarization will be evenly split between the contracting parties.

Commissioner Ms. Hu Hsiao-lan of the Department of Finance (DOF), expressed that the original principle of the regulations was to keep the contract period within 3 years. However, in order to better meet public demands and market needs, as well as to reduce administrative costs for administration agencies, this revision extends the contract period to a maximum of 5 years. This is particularly beneficial for usage types that involve higher initial investment costs, such as supermarkets and long-term care facilities, which better reflect market demands. Additionally, it also reduces administrative costs for administration agencies when it comes to providing continuous and user-friendly services, such as vending machines and photo booths.

DOF further explains that with the implementation of "Regulations of Taipei City Public Use City-owned Real Estate for provision," under the goal of " Sustainable Communion and Hope for the Capital," they aim to establish sound fiscal management from a financial perspective, provide services to citizens, and continuously collect practical issues to roll out revised regulations. This will enhance the efficiency of city-owned real estate and create a sustainable source of revenue for the city government.