1,720,988 research outputs found
Complementarietà dei ruoli dei soggetti coinvolti in procedure di partenariato pubblico privato per l'efficacia degli interventi e la diversificazione dei rischi di mercato: analisi di fattibilità di un progetto di valorizzazione nella città di Roma
No full textThe present paper deals with the evaluation of the financial sustainability of a public property enhancement initiative, realized by a public-private partnership procedure. The development of the Discounted Cash Flow Analysis has provided for a preliminary phase in which the public and private subjects involved in the initiative have been identified, the respective roles have been specified and the costs and the revenues have been assessed. The research highlights the relevant support that, in the initial steps of the definition of an investment in public-private partnership, may result from the disaggregation and the specification of the different roles of all the subjects involved in the initiative. The functions mix provided by the enhancement process and the different management modalities allow the private investor to transfer the risks of the initiative to subjects most competent in their specific market sector. The performance indicators determined for the case study have outlined the financial feasibility of the investment for the private investor
Financial MODELS for the Effectiveness of Urban Regeneration Initiatives
No full textWith reference to the urban regeneration interventions issue, in the present research an innovative model for the ex-ante financial verification of the projects is proposed. The model starts from the logic underlying the Break-Even Analysis (BEA) and modifies some of its starting hypotheses that in specific situations are inconsistent with the real market mechanisms. In this sense, in the paper, the explanation of the proposed innovative model hypotheses is carried out and the comparison with those ordinarily used in the BEA is developed. In particular, the linearity of total revenues and total costs, including in the classic version of the BEA, is not considered among the assumptions of the innovative model, and new parameters are defined. The proposed model can represent an evaluation tool to support the decision-making processes for the private and public operators’ investment choices, able to rapidly analyze the financial feasibility of the initiatives to be implemented on the territory. The outputs obtained from the application of the assessment model can guide the determination and the selection of the interventions to be developed and, integrated with more detailed evaluation analysis, can promote a successful cooperation between the public entities and the private investors for effective city development
Financial Feasibility Assessment of Public Property Assets Valorization: A Case Study in Rome (Italy)
No full textIn 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
The Redevelopment of School Building Assets: The Application of an Evaluation Model for the Optimal Allocation of Available Financial Resources
No full textThe research concerns the redevelopment of school building assets topic and intends to apply an evaluation methodological approach for the optimal allocation of available financial resources. In the current context characterized by the need to properly use the public funding by avoiding to waste the given precious opportunity and to start effective urban interventions, in the present analysis the implementation of an methodology aimed to determine the project solution capable of minimizing the existing gap between the final cost and the spending budget set for the intervention is carried out. The case study is related to the city of Rome and, in particular, regard 111 energy retrofit projects of school buildings located in the 15 municipalities included in the context of the Italian capital. The application of the method allows to compare the estimated total costs with the preliminarily set monetary limit and to identify the categories of work “to be modified” in order to be under budget and to maintain an adequate quality and performance standard of the different project components. In particular, for each work category of the considered initiatives a very low value differential between the already estimated costs and the optimal costs is determined
The Effective Use of National Recovery and Resilience Plan Funding: A Methodological Approach for the Optimal Assessment of the Initiative Costs
No full textWith reference to the National Recovery and Resilience Plan (NRRP), the financial budget provided for a specific project constitutes a fundamental constraint to be taken into account in the selection phase of the initiatives to be carried out. In the present research, a methodological approach based on an optimization algorithm that allows one to minimize the differential between the assessed costs and the budget provided for the project, has been defined. The methodology is organized in three phases and, by borrowing the logic of the Operational Research, aims to minimize the gap between the costs assessed by the expert technician and the final costs, in order to fit the preliminary set budget. In this sense, the developed tool constitutes an effective support for Public Administrations and private investors for choosing the investments to be implemented, in order to identify the best initiatives in which to allocate the public funding, by preventing needless waste of limited financial resources that could be invested in alternative interventions, and to generate further benefits for the communities
Real Estate Sales and “Customer Satisfaction”: Assessing Transparency of Market Advising
No full textThe paper start describing the change of relationship between the evolution of real estate market, housing services, and economic crisis due to the covid pandemic event. Looking more in detail housing and hosting services we can discover the evolution of concept of home-service as the reference point for a different number of activity. In the same time the housing services, considered as a facility for external city users changed their characters and relevance. The transition of urban costumes from the pre-pandemic era to the post pandemic ones generated new use values as a consequence of new costumes. The use of the networks for communicating and collaborating from home instead that from offices and clerk’s workplaces changed office attitudes, but in the same time reduced the usefulness provided by housing stocks addicted to guest foreign city user. The paper describes the evolution of the interpretation of role of housing services, and the consequent change of use-values, in a city that is characterized by the presence of many guests workers, that use housing services by renting flats that have been unused in the most recent years, in the pandemic era, that compelled renters to become traveller
A Methodological Approach for the Analysis of the Effects of Polluting Industrial Sites on the Real Estate Market
No full textUrban areas with industrial sites face challenges related to their negative environmental and community impacts, as well as the economic implications of these issues. In fact, these challenges may influence the behavior of residents with respect to their housing choices, generating broader effects on real estate market dynamics. Understanding the impact that the presence of polluting sites has on real estate prices is critical to allow decision makers to make informed choices in complex situations affected by the influence of these sites. The purpose of this work is to define a methodological approach for investigating the relationships between the presence of polluting sites and the real estate market. The proposed approach constitutes a valid reference for the market analysis in order to develop effective assessments of the interventions to be carried out on the territory
Environmental Impacts and Housing Deprivation: A Study of the Effects of Industrial Polluting Sites in the Italian Context
No full textThe disadvantaged populations often bear a disproportionate burden of environmental pollution, especially when air quality exceeds regulatory standards. This link is particularly pronounced in areas with housing deprivation. As deprivation levels rise, the number of people exposed to excessive pollution increases. The industrial sector is one of the major contributors to air pollution and greenhouse gas emissions. Given the close relationship between industrial sites and socioeconomic, environmental, and health factors in cities, analyzing the real estate market can provide valuable insights for guiding sustainable development strategies. The present research aims to determine if a correlation exists between residential property prices and polluting sites, by considering factors that could represent housing deprivation. By examining the type of relationship and changes in property prices, the study intends to inform decision-making on housing deprivation policies. Through a genetic algorithm (Multi-Case Strategy of Evolutionary Polynomial Regression) applied to a sample of a limited available sample of polluting sites in Italy, first results have been obtained, that align with empirical observations and local user expectations. The results highlight the importance of implementing effective housing deprivation policies that address the environmental impacts of polluting industrial sites on real estate market dynamics. The innovative contribution of this work lies in identifying critical ‘pollution-poverty’ areas that require urgent remedial action
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