Social Return and Financing of Urban Regeneration Policies
This paper analyses an alternative measurement framework capable of capturing the return on investment of urban regeneration projects through a cost-benefit analysis. Financial returns on investment are calculated as the ratio between the benefits accruing from the performance of a given project and the funds involved in their implementation. Both, benefits and funds, must be named in monetary terms. However in urban regeneration projects, due to their dual economic and social nature, is more difficult to quantify the profits generated because most of them are subjective (greater quality of life, better community welfare, etc.). There is a wide array of value taking place in a urban regenerative process (economic value, blended value, social value) some of which are measurable in a traditional Investment/Return framework (with its implicit economic returns assumption) and more of which are not so that they remain partially hidden from stakeholders. Based on the foregoing, the purpose of this study is twofold: to go deeply on the cost-effectiveness ratio of urban regeneration projects through consideration of social impacts and to analyze some new alternative funding formulas that arise particularly in a time of financial constraint. The papers argues that the SROI (Social Return On Investment) method appears as the most appropriate measurement tool to capture the full public benefit as well as the Tax Increment Financing and the Joint European Support for Sustainable Investment in City Areas â€“Jessica, seem to be two innovative financing formulas based on a market approach.
When requesting a correction, please mention this item's handle: RePEc:wiw:wiwrsa:ersa11p1690. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Gunther Maier)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.