The Assessment of the Public and Private Conveniences in the Urban Transformation Interventions: An Optimization Model for the Value Recapture Adoption

In the field of urban transformation interventions, the “privatization” of the potential indirect benefits is a crucial issue. In fact, if not adequately recaptured and managed they can favor the private developers or owners by reducing the share of acquirable public resources intended for the realization of new infrastructures and services. For this reason, the Extraordinary Urbanization Contribution (EUC) was introduced in Italy in 2014 with Art. 16, co.4 of DPR n. 380/2001 to allow an equitable redistribution - between the public and private subjects involved - of the surplus value generated by urban variant interventions. The lack of univocal guidance for determining this contribution has made its application difficult, therefore the work aims to provide a rational and methodological rigorous decision support model intended for the public administration for assessing the surplus value generated by complex urban variant intervention. Its methodological structure is based on goal programming optimization principles. In particular, the innovative contribution of the model is to provide the assessment of the surplus value of “complex” urban variant interventions, or those for which the inclusion of the “time” factor could affect the results and the conveniences of the parties involved. For these reasons, different discount rate values are assumed. The main findings regard the possibility of being used for supporting the public administrations in the correct application of the national regulations, also consistent with the value recapture and value sharing research streams, and for identifying the extra-profit margins and conveniences of the private subject involved

LA VALUTAZIONE DELLA FATTIBILITA’ FINANZIARIA DEGLI INTERVENTI DI TRASFORMAZIONE URBANA: IL CASO DELLA CITTA’ DI PONTEDERA (ITALIA)

The sustainable development of cities is ruled by an effective and efficient management of urban renewal interventions at the local scale. With reference to three degraded urban areas in the city of Pontedera (Italy), the aim of the paper is to highlight the usefulness of the Cost-Volume Profit Analysis (CVPA) as a reference for supporting the decisions that public and private operators have to face in order to identify the most suitable initiative for each area. Two different scenarios which respectively refer to the provisions of the General Regulatory Plan (GRP) of the city and the projectual proposal are analyzed for each plot area. The achieved results prove the rigidity of the GRP forecasts can generate unfeasible interventions which, therefore, are not attractive for private entrepreneurs. The proposed methodology is a logical-operational reference that can be easily applied both by public and private subjects in order to i) quickly assess the stability of the financial structure, and ii) to provide the basis for a negotiation for improving the requested works

LA VALUTAZIONE DELLA RESILIENZA: PROPOSTA DI UNA METODOLOGIA MULTICRIERIALE PER I CONTESTI URBANI

The environmental-climate changes and the Covid-19 emergency have highlighted the weakness for multi-events resilience. The social, natural and economic features that characterize the urban environment, make it a complex system that need to be comprehensively assessed. Aim of the work is to define a multicriteria-based methodology able to create a Urban Resilience Index (IUR) that represents the capacity of the territory to face socio-economic diseases and natural disaster. The proposed protocol consists of a step-by-step guide with the adoption of the Analytic Hierarchy Process technique aggregating the system of indicators and the geographic information system for the visualization of the different spatial distribution of the resilience. The proposed methodology can be used as a decision support tool for public-private partnership’s urban intervention aimed at achieving the Sustainable Development Goals of the Agenda 2030 and the European Green Deal targets. Its flexibility makes it implementable for several sustainable urban planning decision at different scale

An innovative methodology for the assessment of the social discount rate: an application to the European states for ensuring the goals of equitable growth

Purpose – The European Commission has established the reference value of the social discount rate (SDR) to be used in the cost-benefit analysis according to the subdivision of the states relating to the beneficiaries of the Cohesion Fund. This criterion does not allow to adequately consider the economic, social and environmental conditions of each European states for ensuring an equitable and inclusive growth. The aimof the work is to provide an innovative methodology for assessing the “adjusted” SDR according to the socioeconomic and environmental conditions that differently affect the sustainable development of each European state. Design/methodology/approach – Through the implementation of a methodological approach that consists of ordered and sequential phases and the synergic adoption of the Multi-Criteria Techniques with the Data Envelopment Analysis, a corrective coefficient of the SDR established by the European Commission is determined. Findings – The results obtained for the 27 European states highlight how the different conditions of each of them could affect the correct choice of the SDR to be used in the Cost-Benefit Analysis. Originality/value – The proposed research represents a useful reference for identifying national reference SDR values for each European state, consistent with its specificities and with the goals of inclusive growth of the countries and of social and territorial cohesion. Furthermore, the traceability of the methodology in its phases will allow to adapt the SDR to sudden events or exogenous shocks

Credit risk management of property investments through multi-criteria indicators

The economic crisis of 2008 has highlighted the ineffectiveness of the banks in their disbursement of mortgages which caused the spread of Non-Performing Loans (NPLs) with underlying real estate. With the methods stated by the Basel III agreements, aimed at improving the capital requirements of banks and determining an adequate regulatory capital, the banks without the skills required have difficulties in applying the rigid weighting coefficients structures. The aim of the work is to identify a synthetic risk index through the participatory process, in order to support the restructuring debt operations to benefit smaller banks and small and medium-sized enterprises (SME), by analyzing the real estate credit risk. The proposed synthetic risk index aims at overcoming the complexity of Basel III methodologies through the implementation of three different multi-criteria techniques. In particular, the integration of objective financial variables with subjective expert judgments into a participatory process is not that common in the reference literature and brings its benefits for reaching more approved and shared results in the debt restructuring operations procedure. Moreover, the main findings derived by the application to a real case study have demonstrated how important it is for the credit manager to have an adequate synthetic index that could lead to the avoidance of risky scenarios where several modalities to repair the credit debt occur

The value recapture of complex urban transformation interventions: a rational procedure for the fair share of public and private benefits

The benefits generated by the urban transformation interventions can often favour the private property owners or developers by increasing their gains (effective or potential) and therefore reducing the acquirable resources for the public city’s construction. However, due to the requirements of achieving the sustainable development targets established by the 2030 Agenda the process of the construction of the public city should appropriately address the implementation of value recapture’s principles in the assessment of the benefits generated by complex urban transformation interventions. For these reasons, tools like the Extraordinary Urbanization Contribution (EUC) – established in 2014 with the art.16, co.4 of the Italian Presidential Decree no.380/2001 – have recently gained renewed importance. Aim of the work is to provide a decision support model for the assessment of the plusvalue generated by complex urban variant intervention, in order to detect the effects that the discount rate used for representing the time and the risk in the application of the Discounted Cash Flow Analysis (DCFA) for determining the transformation value, can have on the feasibility of the intervention and, consequently, on the public and private benefits. The implementation of a rational procedure based on the application of the mathematical optimization’s principles to a case study in the city of Bari (Italy), allows to highlight how the discount rate may significantly change the urban parameters from which the feasibility of the urban variant depends and the fair share of the public and private benefits

An analysis of the noise pollution influence on the housing prices in the central area of the city of Bari

With reference to the European goals concerning the noise pollution control, the present research aims at verifying the existence and, eventually, determining the influence level of the acoustic component on the selling prices in the residential segment. The analysis has been contextualized to the city of Bari (Southern Italy) and the study sample concerns one-hundred residential units recently sold, for which the main influencing factors in the selling price formation processes have been identified. The implemented methodological tool is a data-driven technique, that employs a genetic algorithm to identify the functional relationships among the considered variables. The application to the case study has allowed the identification of a model characterized by good statistical accuracy and an algebraic form of simple interpretation, which denotes an appreciable contribution of the noise pollution factor on the housing prices

Sviluppo urbano sostenibile e consumo di suolo: modelli innovativi a supporto della valutazione del rischio negli interventi di trasformazione urbana

La presente ricerca intende fornire un contributo logico-operativo per supportare l'adozione di strategie di pianificazione urbana in grado di condurre a un miglioramento del quadro generale delineato, con particolare riferimento alle questioni sociali, economiche ed ambientali generate dal consumo di suolo naturale. Destinato alle Pubbliche Amministrazioni e ai privati imprenditori coinvolti nei processi decisionali di pianificazione delle iniziative di trasformazione urbana sostenibili, il lavoro trae origine dalla necessità di ridurre il consumo di suolo naturale nelle forme e modalità con cui si manifesta nei contesti urbanizzati, adottando strumenti di valutazione che siano in grado di i) sistematizzare l'analisi delle dinamiche urbane che contribuiscono alla sua formazione, ii) individuare rapidamente ed efficacemente le aree in cui insistono condizioni di criticità o di potenzialità circa gli aspetti sociali, economici ed ambientali considerati, iii) tener conto del contributo di ciascun aspetto nella formazione del consumo di suolo, iv) rappresentare in maniera semplice e concreta i risultati dell'analisi per aumentare la consapevolezza degli enti governativi, a cui spettano le decisioni d'intervento, e dei cittadini, v) supportare la calibrazione della composizione morfologica degli interventi di trasformazione urbana affinchè siano meno impattanti e a ridotto consumo di suolo naturale, finanziariamente convenienti per i soggetti pubblici e privati coinvolti, ed adeguati per soddisfare le necessità della comunità locale, vi) porsi in linea con l'obiettivo europeo di “consumo di suolo netto pari a zero” entro il 2050, vii) aumentare la resilienza e la qualità della vita nelle città. La ricerca consiste nella definizione e sperimentazione di un modello innovativo di valutazione del rischio direttamente causato dalla dimensione urbana del fenomeno del consumo di suolo. Nello specifico, si valuta il rischio economico- finanziario, ambientale e sociale che insorge negli ambiti altamente urbanizzati, attraverso un indice sintetico che riassume la rilevanza di ciascun aspetto indagato grazie all'utilizzo di un sistema di indicatori gerarchico e di tipo compensativo. Il concetto di rischio è declinato secondo le specificità di ciascuna componente del consumo di suolo considerata, a seguito di un attento studio e di una efficace contestualizzazione, e si espleta in un set di criteri, indicatori e range di variazione. L'approccio proposto mutua l'impostazione metodologica dell'analisi e del monitoraggio dello sviluppo sostenibile condotto in ambito nazionale, avvalendosi però delle tecniche di valutazione multicriteri e dei sistemi informativi geografici (GIS) per la costruzione di indici sintetici di rischio afferenti a ciascuna componente considerata. Le operazioni condotte vengono riassunte e condensate in un documento procedurale, ossia un protocollo di fasi logico-operative di carattere generale, implementabile a differenti scale territoriali di contesti urbanizzati nazionali ed esteri, che costituisce il quadro sinottico della sistematizzazione dell'analisi della dimensione urbana del consumo di suolo naturale. Il modello proposto implementato al caso della città di Roma, scelta a causa del suo tasso di impermeabilizzazione, il più elevato d'Italia a partire dal 2016 secondo le indagini dell'Istituto Superiore per la Protezione e la Ricerca Ambientale (ISPRA), delle sue criticità rispetto agli SDG, oltre che per la rilevanza del suo patrimonio storico-artistico e culturale da proteggere dai cambiamenti climatici e da valorizzare adeguatamente in maniera sostenibile. La suddivisione del territorio comunale in unità territoriali d'indagine, scelte sulla base dell'utilità finale di ciascun indice per conto di operatori pubblici e privati coinvolti nella predisposizione di piani e progetti di trasformazione urbana che siano sostenibili e a ridotto consumo di suolo, permette di valutare le criticità o potenzialità delle singole porzioni urbane fornendo un quadro conoscitivo alla scala subcomunale, spesso trascurata dai sistemi di monitoraggio degli SDG, ma estremamente importante sul piano operativo anche per la Pubblica Amministrazione e i privati imprenditori. Infine, la visualizzazione dei risultati degli indici attraverso l'utilizzo di apposite mappe tematiche, consente di facilitare la visualizzazione della distribuzione spaziale del rischio considerato

Valorization of cultural heritage and land take reduction: an urban compensation model for the replacement of unsuitable buildings in an Italian UNESCO site

The enhancement of historical, artistic and cultural assets is a topic of significant interest in the interna- tional and national context within the policies able to reduce the land take. However, it often happens that the full conservation and enhancement of the cultural heritage site is hindered by recently built buildings that are inconsistent with the valuable characteristics of the surrounding urban environment. Aim of the work is to define and implement an innovative compensation-based model to enable the de- molition and reconstruction of unsuitable buildings that prevent the enhancement of historic city centers. It represents a decision support system for the Public Administration in the determination of the building rights to be transferred to the Private Entrepreneur involved, by ensuring financial convenience, environ- mental purposes and overall positive public effects. The analysis of the results obtained by applying the compensation-based model to the city of Alberobello, a UNESCO Italian heritage site, demonstrates its usefulness, efficiency and flexibility