Statute for Expediting Reconstruction of Urban Unsafe and Old Buildings Article 5-1

If lands and legal buildings included in Paragraph 1 of the preceding article are public property, they are mandated to participate in the reconstruction plans and shall exempt from the constraints delineated in Article 25 of the Land Act; Article 28, Article 53 and Article 66 of the National Property Act; Article 25, Article 26 and Article 86 of the Budget Act; and relevant regulations governing local public property management, except under the following circumstances:1. There are other reasonable utilization plans so that unable to participate in the reconstruction.2. The ratio of public land area is above 50% within the reconstruction plan scope.3. The ratio of public land area is above 30% within the reconstruction plan scope and scope of the reconstruction plan aligns with the criteria for designating a renewal unit.Public properties in preceding paragraph participating in reconstruction shall be processed through methods such as joint construction by agreements; public tendering, project-specific sale or other methods as prescribed by relevant legal provisions. In the case of joint construction by agreements, involving the values of land and legal structures before and after reconstruction, and the cost of reconstruction, public property administrative authority shall commission real estate appraisers to assess and then to determine the market value in accordance with the price assessment and review mechanism applicable for such public property. Subsequently, each respective public property administrative authority may negotiate the value distribution ratio in the reconstruction based on the determined market value. In the case of public tendering, apart from statutory preferential acquirer, the builder has the privilege of exercising the right of first acquisition under the same conditions.In the two preceding paragraphs, circumstances for public properties unable to participate in reconstruction due to other reasonable utilization plan; applicable conditions for public properties to participate in reconstruction; handling procedure and other compliance matters to be followed shall be separately prescribed by Ministry of Finance and competent authorities of municipal or county (city) government.