以土地信託模式解決聯合開發下主辦機關融資協助介入權可行性之研究─以台北都會區大捷運系統松山線松江南京站聯合開發區捷十基地案為例

THE STUDY OF STEP-IN RIGHT OF FINANCIAL PROGRAM FOR CONTRACTS WITH INVESTORS ON MRT LAND JOINT DEVELOPMENT BY LAND TRUST BASED ON TAIPEI MRT SONGSHAN LINE SONGJIANG-NANJING STATION JOINT DEVELOPMENT BASE No. 10.

潘欣榮(Shin-Jung Pan)

《營建管理季刊》 86期 (2011/06) Pp. 31-58

https://doi.org/10.6505/CMJ-2011-86-31-28

摘要

按聯合開發乃是一種不動產與大眾運輸設施緊密結合的土地資源開發方式，藉由運輸設施所提供的市場及區位利益，重新刺激新舊更迭或重心轉移後，都市的復甦或秩序的重建，政府亦可減少支出，提高運輸系統的載客率，是一種政府與民間合則兩利的都市土地開發方式。而台北市政府捷運局近年來亦大力推動各捷運場站及其毗鄰土地之聯合開發，希冀藉由此種不動產與大眾運輸設施緊密結合的土地開發模式來挹注大眾捷運系統所須之興建費用。然由於聯合開發所牽涉之權益者相當廣泛，其所需資金十分龐大，因此現行台北市都會區大眾捷運系統聯合開發之融資協助架構乃採取土地信託模式，作為聯合開發事業中投資人、地主、主管機關以及融資銀行之權益保存機制，以避免資產因投資人之重大債信不良而遭追索，惟由於其制度設計上之偏差，致使其在消費者權益之保障上顯失均衡，乃過分偏重主管機關之權益而忽略聯合開發預售屋購買者之權益，乃引發諸多糾紛。因此本文以下，乃擬就現行台北都會區大眾捷運系統聯合開發之融資協助架構作一概略性之介紹，檢討其缺失，並提出可能之修正方案，以平衡主管機關之利益與消費者之權益，並解決投資人在遭受重大債信不良時之續建問題。

關鍵字

聯合開發 ； 土地信託 ； 融資協助介入權 ； 破產隔離 ； 在建工程移轉對價

並列摘要

The joint development is a land development method in close connection with real estate and public transport facilities, and an urban land development benefit both government and private. The Department of Mass Rapid Transit (MRT) Systems, Taipei City Government (TCG) has pushed back joint development of MRT system’s station and deport in recent years, in the hope of such income to inject the required construction costs of MRT system. However, due to the involved in a wide range of interests, required huge funds, and avoidance of recourse of investor's creditors, the Department of MRT, TCG adopted land trust as the Interest Structure of investors, landlords and competent authority in Financial Program for Contracts with Investors on MRT Land Joint Development. But due to deviation of its institutional design, it lost on balance between protection of consumers' right and interest of competent authority. It concerned about competent authority's interest more than house buyer's, incurring a lot of disputes. This article is intend to make a brief view of Financial Program for Contracts with Investors on MRT Land Joint Development, to discuss its defects, to propose a possible solution to balance between protection of consumers' right and interest of competent authority and set up a continued construction mechanism when the investor has suffered from a material adverse change.

並列關鍵字

Joint Development ； Land Trust ； Step-in Right of Financial Program ； Bankruptcy Remoteness ； Transfer Pricing of Construction in progress