TC公司新任董座在面臨大環境變動下，如何針對進行中的都更開發案尋覓適合的融資管道。在營運方向調整的情況下，又遇政府為了壓抑高房價問題，一連串推出政策性的管制措施，讓此時對資金需求殷切的TC公司李董困擾不已，該現金增資？但時局不利辦理增資；還是發行公司債？但成本過高，不符合資金應用效益。幾經考量後，銀行融資仍是最適切的方式，惟銀行融資又牽涉到此時銀行法72-2限額規範，增加融資難度，除在額度的滿足與否外，不動產開發信託該如何架構及承作？財務的風險該如何適切的管控？以及都更的融資策略又要如何妥適應用？在深刻記取前次財務危機的教訓下，每走一步都戰戰兢兢，絕不容許重蹈覆轍，對於這次的都更融資所面臨的難題，著實讓這位新董座傷透了腦筋與心力。隨著環境的變遷，營建產業在原料(土地)與資金(貸款)取得不易下，改變其營運開發方向，勢必為該產業當務之急。

自蔡政府上台後，極力推展落實都更政策，期能帶給國人在居住上的安全。在金融研訓院院長黃博怡發起的金融業扮都市更新資金推手的議題建議上：成立專案融資平台，以專案方式鼓勵銀行辦理都更融資貸款；另都更修正條列也擬將都更融資排除銀行法72-2的規範列入修正重點。然如何透過對都更融資的研究，協助國內營建業者對於銀行徵信審查信用五P及核貸的重點有所理解，進而能有效益的於貨幣市場取得籌資管道，在銀行充足的資金支應下，使其能順利完成都市更新，活化城市新面貌，創造多贏的局面，就成了值得探討的課題。

The new chairman of the TC company is facing the changes in the environment, how to find a suitable financing channel for the undergoing construction project. In the case of adjustments in the direction of operations, and in response to the government's suppression of high housing prices, a series of policy control measures have been introduced, especially the central bank’s selective credit control measures. At this time, Li, the chairman of TC Co., LTD., who has a keen demand for funds, has been bothered. Should he go with seasoned equity offering (SEO)? However, the current economic condition is not conducive to do so. Issuing corporate bonds? But the cost is too high. After several considerations, bank financing is still the most appropriate method. However, bank financing is under the 72-2 limit of bank law at this time, which makes it more difficult. Besides the amount raised, how should the real estate development trust be structured and proceed? How can financial risk be properly managed? And how can more financing strategies be adopted?

After the lessons of the previous financial crisis, every step is difficult as we must not make the same mistakes again. For this time, the difficulties of financing really do tire the brain and heart of the chairman. With the changes of the environment, the construction industry has difficulty obtaining raw materials (land) and funds (loans), and has to change its direction of operation and development, which is bound to be an urgent task for the industry.

The government strongly promotes the implementation of the urban renewal policy and will insure the security in terms of residence during the period. A special project financing platform was set up to encourage banks to offer financing loans in a project-based manner; the Urban Renewal Act is also drew up to exclude the regulatory limit of bank law 72-2. However, how to create a win-win situation by helping the domestic construction industry get enough funds through the financing channels of the money market and thus achieve successful completion of urban renewal has become a topic worthy of discussion.

一、中文部分
1.朱哲毅著「不動產信託實務」，金融研訓院出版
2.王志成著：「信託法」，五南出版社(2009.03)
3.楊景祺(2007中央大學),商業銀行對營建業的授信政策與評分模型
4.彭莉萍(2006中央大學),不動產信託與融資
5.蔡恩得(2007 輔仁大學),都市更新之融資策略
6.羅素華(2010台灣科技大學),都市更新銀行融資規畫之個案研究
7.鍾雅喬 (2009台灣科技大學),銀行不動產授信策略之個案研究-以個案銀行房屋擔保放款為例
8.林俊廷，(2007 朝陽科技大學),以層級分析法對銀行建築融資授信評估之研究
9.陳全勝，(2004台灣科技大學),論都市更新容積獎勵對房地產投資報酬率影響之研究
10.李永隆 羅錦賜 (2009文化),銀行對都市更新融資調查研究
11.王勳慶 陳錦村 (2007中央大學),銀行如何訂定建築業的授信政策
12.蔡篤源 林問一 (2008逢甲大學),銀行對建商融資策略。
13.林明志 張元晨(2009政治大學),台灣營建業融資擔保品與融資成本關聯性之研究

二、英文部分
1. Berger, A.N.&　G.F.Udell.,(1990),“Collateral,Loanquality,and Bank risk”Journal of Monetary Economics 25
2. Bonoma, T.V.,(1985) “Case Research in Marketing:Opportunities,Problems,and a Process.”Journal of Marketing Research. Vol. 22. May
3. Cooper, Donald R. & Schindler, Pamela S.,(2006), Business Research Methods ,9e., New York Mc Graw-Hill
三、網站部分
1.台北市政府都市發展局(網址：http：//www.udd.taipei.gov.tw/)
2.財團法人台灣營建研究(網址：http：//www.tcri.org.tw/)
3.內政部建築研究所(網址：http：//abri.gov.tw/uctPageBox/CHIMAINHP.aspx？ddsPageID=CHIM)
4.金融監督管理委員會網站 (http://www.fsc.gov.tw/ch/index.jsp)。
5.中華民國內政部全球資訊網 (http://www.moi.gov.tw/)
6. 臺灣博碩士論文知識加值系統(http://ndltd.ncl.edu.tw/cgi-bin/gs32/gsweb.cgi/ccd=klJvUH/webmge? Geticket=1)。
7.財團法人都市更新研究發展基金會(http://www.ur.org.tw/)
8.MBA 智庫百科 (http://wiki.mbalib.com/wiki/)。