英文摘要 |
The Da-Liau Operation Center of Kaohsiung Metropolitan Rapid Mass Transit System needs a land area of 50 hectares which will be acquired by eminent domain. The study analyzes development cost and revenues for land development, builds a financial model to find the size area for eminent domain. In addition to that criteria, if the factors such as the vacant land areas in the neighborhood, transportation route, and the overall land use planning are considered, a land area of 450 hectares for eminent domain is recommended. If the market shows sufficient demand for land, it is better to choose the larger land area for eminent domain. It brings two merits. First, the larger the land area for eminent domain, the latter the auction year. The auction can be easily arranged. If the auction is finished in the year as planned, the revenues at least equals the costs. If the auctions completed in a year earlier than the one planned, the eminent domain will produce positive profits. Second, the larger the land area for eminent domain, the smaller the land price in the auction to have costs equal revenues. If the actual land price in the auction is larger than the one expected, the positive profits will follow. The study also tries to find a land area which maximizes profit function under different circumstances. The solutions of the first order condition of maximization either are not suitable for practical use or cannot maximize profits. Therefore the methodology of maximization cannot produce a practical land area for eminent domain. |