Ricerc@Sapienza

The present research is focalized on public-private partnership (PPP) procedures as a driving force of urban sustainable development. The paper intends to point out the relevant role played by the public administrations in the implementation of these mechanisms aimed at degraded urban area renovation, public property assets enhancement, or ex novo realization. In this sense, in the existing reference literature, the private investor tasks and risks have been often explored, neglecting the significant public entities position.

In the European Union, real estate initiatives involving public-private partnerships (PPPs) are characterized by the payment of a charge, which is generally used for public purposes (and works). In Italy, since the 1990s, PPPs have also been used to start negotiated initiatives giving the possibility of modifying town planning forecasts. Such initiatives are aimed at increasing the value of private properties and, through the charge, financing public works.

The organizational procedures of project financing (ex ante definition of the infrastructure project by the private promoter/equity sponsor and the public entity; ex ante definition of the contractual documentation, aimed at risk-sharing and monitoring of cash flows, by the sponsor so to negotiate the cost of bank debt) reduce the risk of distortion of the statistical estimates resulting from the simultaneity that typically exists between the choice of financial arrangement of an investment project and its characteristics.

In this research a methodology to support decisions of Public Administrations in the definition of planning parameters of urban regeneration initiatives to be implemented with the involvement of private investors is applied. The decision support method proposed borrows the logic of the Break-Even Analysis. The model is applied to an urban area located in a city of the Apulia Region (Italy), which has been promoting urban redevelopment policies, investing significant public funding.

Purpose: This research aims to propose a decision support methodology for public and private subjects involved in the enhancement of public properties. In particular, with reference to cases in which the disused public property can be sold and the range of functions that define the highest and best use of the conversion

'Public interest' has always been a necessary and unavoidable condition in Public-Private Partnership negotiated-type (PPPN), introduced in the Italian law in 1992. However, only in 2014 that the meaning of public interest has been clarified through art. 17.1 letter g) of Law no. 164/2014, by matching it with an extraordinary contribute of urbanisation. In this law the extraordinary contribution is defined by taking into account only the purely financial criteria. Instead, European Directives and case law reaffirmed the multi-dimensional connotation of public interest.

The effects of the world economic and financial crisis, which began in 2007 and is still in progress, has made increasingly sharp the line of demarcation between those able to access home ownership on the free market, and those unable to do so. For the European Union's member states, Social Housing (SH) policies include all the initiatives aimed at providing housing support for all the weak segments of the population; these policies have declined differently by different Member States according to their specific needs.

Despite the widespread opinion that the traditional finance is exclusively interested in the monetary return, in the last ten years this sector has been affected by a contamination of the public principles related to the social impacts. The global development and the spread of “win-win” financial instruments such as the Social Impact Bonds (SIBs) outlines a growing interest in making an investment that aims at generating benefits for all the subjects involved, always guaranteeing a monetary return to the private investor.

The sustainable development of cities, by focusing on abandoned or degraded areas, represent the key driver that is able to remedy to damages that are produced by uncontrolled urban growth. The aim of the work is to highlight usefulness of the Cost-Revenue Analysis (CRA) in decision-making process concerning the enhancement of a military complex located in the city of Rome (Italy).

The present research concerns the procedures of concessions for the improvement and exploitation of public property assets. We propose a model that helps to define the optimal combination of novel uses in public properties. This model is an answer to the need for effective strategies to find new functions for disused buildings or abandoned areas.