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. The model integrates the logic of the Discounted Cash-Flow Analysis (DCFA) and the goal programming for determining the new functions, to identify the macro-solution that maximizes the financial conveniences of the parties involved (Public Administration and private investor), in terms of monetary compensation for the Public Administration and return on investment for the private operator. The algorithm of the model has been applied to five existing public properties located in the city of Rome (Italy); for each property a specific procedure of concessions for the improvement of public assets can be activated and different eligible enhancement projects can be realized. The outputs generated by the optimization model are a valid decision support in all the phases of the concession procedure to identify the (public and private) strengths and weaknesses concerning the redevelopment initiatives on public properties. The effective re-use of these properties can actually help to prevent further soil consumption.

The optimal combinations of the eligible functions in multiple property assets enhancement / Tajani, Francesco; Morano, Pierluigi; Di Liddo, Felicia. - In: LAND USE POLICY. - ISSN 0264-8377. - 99/2020(2020). [10.1016/j.landusepol.2020.105050]

The optimal combinations of the eligible functions in multiple property assets enhancement

Francesco Tajani
Primo
;
Felicia Di Liddo
2020

Abstract

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. The model integrates the logic of the Discounted Cash-Flow Analysis (DCFA) and the goal programming for determining the new functions, to identify the macro-solution that maximizes the financial conveniences of the parties involved (Public Administration and private investor), in terms of monetary compensation for the Public Administration and return on investment for the private operator. The algorithm of the model has been applied to five existing public properties located in the city of Rome (Italy); for each property a specific procedure of concessions for the improvement of public assets can be activated and different eligible enhancement projects can be realized. The outputs generated by the optimization model are a valid decision support in all the phases of the concession procedure to identify the (public and private) strengths and weaknesses concerning the redevelopment initiatives on public properties. The effective re-use of these properties can actually help to prevent further soil consumption.
2020
Public-private partnership; Property assets; Abandoned urban areas; Goal programming; Return on investment; Financial sustainability; DCFA
01 Pubblicazione su rivista::01a Articolo in rivista
The optimal combinations of the eligible functions in multiple property assets enhancement / Tajani, Francesco; Morano, Pierluigi; Di Liddo, Felicia. - In: LAND USE POLICY. - ISSN 0264-8377. - 99/2020(2020). [10.1016/j.landusepol.2020.105050]
File allegati a questo prodotto
File Dimensione Formato  
Tajani_Optimal-combinations-functions_2020_published.pdf

accesso aperto

Tipologia: Versione editoriale (versione pubblicata con il layout dell'editore)
Licenza: Tutti i diritti riservati (All rights reserved)
Dimensione 3.53 MB
Formato Adobe PDF
3.53 MB Adobe PDF

I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.

Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11573/1436075
Citazioni
  • ???jsp.display-item.citation.pmc??? ND
  • Scopus 10
  • ???jsp.display-item.citation.isi??? 4
social impact