Input 2021.02.04 13:30
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The degree of intervention by the government and local governments is greater than the public reconstruction method in which Korea Land and Housing Corporation (LH) and Seoul Housing and Urban Corporation (SH Corporation) participate as joint project operators.
Considering that the participation rate for public redevelopment contests is 25.9%, the government announced that it will supply 136,000 households with an expectation, with 25% of the total participation in Seoul maintenance areas and 12.5% of Incheon and Gyeonggi maintenance areas.
At the maintenance project site, there is a response that the’public direct implementation maintenance project’ is less attractive than the’public reconstruction (public participation type high density reconstruction)’ which has been ignored by the owners.
The advantage of this method is, first of all, that the speed of the maintenance business is accelerated. When the reconstruction is promoted, the general assembly of the union or the procedure for approving management disposition is omitted, and the local government integrated deliberation is applied. The government said that the maintenance project that previously took 13 years or more can be completed within five years.
In addition, it is said that the use area can be increased by one step or the floor area ratio can be increased to 120% of the legal upper limit, and it is said to guarantee an additional profit of 10 to 30% points (p) compared to the existing maintenance project to members. The application of the reconstruction excess profit return system is exempted, and there is no obligation to reside for two years as a member of the reconstruction union.
The problem is that it is necessary to hand over both asset ownership and business rights to LH·SH Corporation. In the process of carrying out the maintenance project, the choice of members becomes narrower, and it becomes difficult to stop the business halfway because they do not like it. Expected returns also have to rely on government decisions.
The chairman of the A Reconstruction Preparatory Committee in Songpa-gu, Seoul, said, “In the end, the public will take all ownership and develop it. How on earth would you believe the government and entrust all ownership?” He added, “I don’t think there will be a place to accept it in the Gangnam area, and I have no intention of reviewing our workplace at all.”
Another head of the Songpa-gu B Reconstruction Association also said, “If you entrust both the land and business initiative to the public, the members will oppose it,” and said, “There is no specific incentive.” “In particular, in order for this project to be promoted, legislation has to support it, but there is a possibility that a toxin clause will be included in the future as a bill has not yet been made.” He said, “I wonder if everyone will wait and see until a specific bill comes out.”
Another chairman of the Seoul C Reconstruction Preparatory Committee said, “I saw only the article that the government intends to promote the reconstruction in a public way, and did not look into the details,” and said, “Because I have no intention of reviewing or promoting reconstruction in the public way.” did.
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Songpa-gu’s Chairman of the A Reconstruction Preparatory Committee said, “If the holding tax is strengthened, there will be some members who will inevitably want to sell, but if the public direct implementation is implemented instead of general reconstruction, there may be problems in realizing profits.” “The owners who do this will not sell until completion, but then the sale will be locked and the supply will be reduced in the trading market?”
Some are concerned that public direct implementation will lead to conflict among existing maintenance sites. In the case of a direct public maintenance project, the project begins first if there is a majority agreement of the members. If more than two-thirds of the members’ consent is not received within one year after that, the project is automatically canceled. Seocho-gu D reconstruction association chief said, “I’m worried that the opposition forces trying to shake the union will come up with public direct reconstruction and the members will split up.”
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