The Construction and Planning Agency has allocated 150 million NT dollars to renovate old buildings in providing a safer home for residents. Homeowners can apply collaboratively for the "urban renewal subsidy program" for a complete reconstruction or a face-lift of their private development. The application process will start as early as May.

According to Construction and Planning Agency estimates, Taiwan has 1.7 million households residing in buildings between 20 and 30 years old, and 3 million households residing in buildings more than 30 years old.

Many of the buildings were not constructed to withstand major earthquakes, and the CPA recently announced a new program to help subsidize private urban renewal projects.

Subsidies are available for two types of projects: reconstruction and face-lifts.

For the former, cases with at least 100 units signed up will be eligible for subsidies of up to 2.5 million NT.

For the latter, cases with at least 100 units signed up will be eligible for maximum subsidies of 1 million NT.

In both instances, the subsidy amount rises with the number of participating units.

Applications that are approved by the municipal government are sent to the CPA for review.

According to the CPA, 150 million NT dollars has been allocated to fund the renewal plan this year, and the amount should rise to 500 million NT starting next year.

80% of the funds are earmarked for face-lifts, while the remaining 20% will be used for reconstruction projects.

Relevant regulations will be reviewed in April, and the CPA could start accepting applications as soon as May.

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