| dc.description.abstract | The trend of public development together by the government and private enterprises, to improve the disproportion problem between supply and demand of parking places in urban areas. The government actively sets the building of off-road public parking lots by the non-governmental circles into motion.
The conscientious and objective evaluation of feasibility and the programming of anticipated operation are both critical for this promotion. However, after examining the internal experiences of promoting civilian firms to anticipate the investment in parking lots, besides several deficiencies found in the operation, the lack of objective and cautious feasibility analysis of financial benefits has led it to become the main doubt for the private investors, and also resulted in the relatively few cases of BOT successfully promoted by our government. Without the accessory business, can a parking space be self-sufficient enough and do financial benefits corresponds to the investment and operation with the income alone? Do the six main civilian participation modes of Law for Promotion of Private Participation all fit the construction of parking lots?
In view of the importance of financial projects both to the private investment and government examination, this study refereed to the result report of financial evaluation model of civilian participation in public construction issued by the Construction Council , and set an analysis model of financial feasibility according to the characteristics of parking places and the related cases collected. To concretely realize the financial benefit gained by the parking lots adopting BOT mode recently, this research thus took a parking space operating in reality as an example and
calculates experimentally the financial feasibility both by civilian sectors and the government.
The result of analysis showed that with the current parking rates, promoting the off-road public parking lots in BOT mode doesn’t bring the balance of receipts and payments. To figure out which model best suits the participation of private enterprises, this study collected cases of parking spaces of which contracts were signed according to Law for Promotion of Private Participation, and analyzed the suitability of each pattern in that Law. Besides, this study took another two parking spaces running in operation with the mode of ROT and OT as examples and computed their financial feasibility. The result indicated that the financial benefit of the government and civilian institutes both reached the predictions.
Both the financial verification of this study and the analysis of relevant documents indicate that without effective protection for both present framework parking fee and parking utility rate, the BOT cases examined by the case studies can’t achieve self-sufficiency with only the income from running parking lots themselves. In addition, the gratuitous and non-gratuitous modes of BOT require a larger fund and face a higher risk of investment because the private investors can’t obtain the capital financing by declaring the superficies of public land, which may influence their will to invest. The BOT mode is carried out and constructed by the civilian firms possessing the ownership, thus it is comparatively unsuitable for most of the parking lots belonging to public domain for communal facilities. The government may have to pragmatically assess to build off-road public parking lots in OT or ROT mode. Although these ways may not ease the pressure from the budget needed for construction, they will contribute to the efficiency during operation period, and attract the participation of civilian investors more efficaciously as well.
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