Public Property Management For Italian Municipalities. Framework, Current Issues And Viable Solutions

"The management of real estate properties has become a critical issue for Local Governments. From a first exam of Italian experiences in this field, it is emerged a widespread tendency at divesting real estate properties. The main factors that have steered these processes can be summarized as follow: reduction of debt accrued; budgetary constraints; the transition from a logic of """"conservative management"""" to a more """"market oriented"""" approach, aimed at obtaining financial resources from the divestments of these assets. On the other hand, there is a misperception of the contribution offered by real estate assets in favor of the functions, processes and services provided by LGs, as well as lack of expertise in the management of these assets. According to these issues, the divestment of real estate property was assumed as a """"first best solution"""", in absence of a wide-ranging and multidimensional vision of the """"real estate management issues"""" and in light of the short-term political needs. The research aims at defining the main answers to public property management issues among Italian municipalities, through an analysis of the subject from two different perspective: Ñacademic, aimed at defining a theoretical framework for the decision-making process in the field of public property management for politicians and managers involved in the definition of these aspects; Ñoperational, concerning the identification of the most effective tools in order to analyze the financial, economic and social fallouts of the decisions assumed."