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The Invitation to Bid for the Project of Former City Council Will Be Republished after Reviewing the Maximum Allowable Land Rent Increase and Clarifying Rights and Obligations between Investors and Taipei City Government

The Invitation to Bid (ITB) for the project of former city council expired yesterday (May 3, 2016). The bid failed due to a lack of bidders. According to the Department of Finance (DoF) of Taipei City Government (TCG), a special meeting was called to evaluate the situation and propose amendments to "The Implementation Directions of the Creation of Superficies of City-Owned Land". The maximum allowable land rent increase of the projects developed in the form of creation of superficies will be set to facilitate investors' financial evaluations and reduce their financial risks.

 

In the project, the successful tenderer was asked to reserve a portion of the floor area for TCG at no cost. Half of the area would be used to build the Taipei City Museum operated by TCG (The Examination Hall Monument, exhibition area, and the City Council Historical Gallery are included). The other half of the area would be used for NGO headquarters. In consideration of the co-management problem, the rights and obligations between investors and TCG will be clarified in the conditions of tender.

 

Under the regulation of "Taipei City Property Management Act", the DoF also evaluated the possibility of preferentially entrusting the operation and management of the floor area reserved for NGOs to the investors. The Invitation to Bid for the project will be republished after the "The Implementation Directions of the Creation of Superficies of City-Owned Land" is amended. Welcome all investors with interest to join then.