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Urban renewal

LAZ-ROM engages in urban renewal projects (Tama 38) through which the residents enjoy a new apartment in a new and modern building (Tama 38/2 – clearing and development), a safe room (bomb shelter), underground parking and a terrace. The market value of the new apartment is significantly higher (30%-40%) than the value of the old one . The company escorts the residents throughout the whole process from start to finish while providing the residents with constant updates, while attending to the residents’ requests and concerns.

NOP 38 (TAMA 38)

NOP (National Outline Plan) 38 is a national master plan for the seismic strengthening of existing buildings against earthquakes. The plan is valid in buildings that were not built according to SI 413 - the Israeli standard for earthquakes. The plan was approved by the Israeli government in April 2005.
To create a reality in which apartment owners (tenants) will be able to meet the high costs of strengthening the buildings, the government approved additional building rights to existing apartments, rights which the tenants can sell to developers. In addition, tenants were given significant tax benefits to help get the project into practice.
The program underwent various legislative amendments when today we can distinguish between two different options to carry out NOP 38.

Reinforcement (NOP 38/1)
Reinforcing and strengthening the building against earthquakes. Apartments owners gain a reinforced building against earthquakes and benefit from the expansion of their existing apartment (including a shelter room), an elevator, balconies, new public areas, environmental development, and more.

Demolition and rebuilding (NOP 38/2)
The second amendment to NOP 38 approved in 2010, presents an option of demolishing an old building that meets the NOP 38 requirements and building a new building in its place. In this course of action tenants receive an expanded brand new apartment, balcony and underground parking in a new building along with rent payments for the construction period and all necessary guarantees.

THE PHASES ON URBAN RENEWAL PROJECT

FIRST STEPS

PHASE I

FIRST STEPS

Introduction and initial examination of the building by the company’s management

FEASIBILITY STUDY

PHASE II

FEASIBILITY STUDY

Entrepreneurial/architectural tour on site


Examination of the applicable plans and preliminary examination with the municipal planning officials

MEETING WITH TENANTS

Phase III

MEETING WITH TENANTS

Brief summary of NOP 38 and specifically in the designated city


Presentation of the company’s offer while attending to questions/comments

PREPARATION AND PRESENTATION OF PLANS

Phase IV

PREPARATION AND PRESENTATION OF PLANS

Preparation and presentation of detailed plans and computer simulations of the building in a predetermined schedule.

AGREEMENT

Phase V

AGREEMENT

Signing a detailed agreement between the company and the tenants

DETAILED PLANNING

Phase VI

DETAILED PLANNING

The company will engage in detailed planning with all the required advisors and submit the plans to the municipality

CONSTRUCTION

PHASE VII

CONSTRUCTION

Construction while routinely updating the tenants on the progress

DELIVERY

Phase VIII

DELIVERY

Upon completion of the construction, the new apartments will be delivered to the tenants, who will benefit from a significant increase in the value of their property

FOR FURTHER INFORMATION CONTACT





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