Ricerc@Sapienza

In the present research the financial feasibility assessment of a
public-private partnership initiative concerning the valorization of a public
property located in the city of Rome (Italy) has been examined. The development
of the assessment, which has provided for the implementation of the
Discounted Cash-Flow Analysis, has been anticipated by a preliminary phase in
which the public and private parties involved in the initiative have been identified,
the respective roles have been defined and the costs and the revenues
generated by the intervention have been assessed. The work highlights the
significant support that, in the initial phases of the definition of an investment in
public-private partnership, may result from the disaggregation of the different
subjects and by the explanation of their roles in the initiative. The functions mix
considered in the valorization process and the different management modalities
allow the private investor to transfer the risks of the intervention to subjects most
competent in the market sector in which they will be involved. The performance
indicators obtained for the case study have pointed out the financial sustainability
of the investment for the private operator and therefore the feasibility of a
project able to generate significant positive impacts on the local community.