Public Assets Development: Analysis Of The Opportunity Of Applying Real Estate Finance Tools In The Urban Redevelopment Processes In Lombardy Region (Italy)

The development chances of public assets, both present in a wide number on the national territory and represented by high quality and considerable properties, are a fundamental opportunity for the Public Administrations and the local communities. With the purpose of facing the emerging issues that affect cities and territories, above all in terms of governance, the management policies in this sector, are an essential element for deepening the thinking over the Public Administrations behavior, especially, in this period of economic crisis. In this context, therefore, issues as tools for the expenses reduction in the public assets management, the rationalization of uses in the propertiesí development processes, in order to improve the public/private and public/public partnerships through the so-called PUV (Programmi Unitari di Valorizzazione) have become very important aspects of the national debate. In regard of these statements, this paper outlines the outcomes of the research program ìPublic assets valorization: analysis of the opportunity of applying real estate finance tools in the urban redevelopment processes in Lombardy region (Italy)î, started and developed through survey carried out by the use of questionnaires, administered to a stable and representative sample of 60 Townships in Lombardy region and focused on the local Public Administrations preferences about different real estate development tools, both considering what is provided by the article n. 58 of the Act 133/2008 (ìPiano delle alienazioni e valorizzazioni immobiliariî) and analyzing the most important tools that local authorities could use to achieve the development purposes of their own real estate assets. The outcomes of this survey show both high capabilities and wide development potentialities, in terms of availability of properties and of vocation of the Public Administrations of considering the issues in discussion. At the same time, it has been possible to identify which are the most considerable threats to further development of the current practice.