Everything is ready in Emilia-Romagna for the operational launch of the regional Housing Plan, which aims to mobilize 300 million euros over five years with the goal of providing citizens with 5,000 public housing units, including renovated buildings and new constructions. “We expect to start the work and spend the first funds in September, after the signing of the agreement that ratifies the deal with the municipalities,” explains the regional housing policy assessor Giovanni Paglia, “so that we can allocate the first renovated homes between the end of the year and early January.” The plan is funded with 50 million from the region and an equal amount from the European Regional Development Fund (ERDF) reprogrammed in recent months. “Thanks to European and regional resources,” explains the Budget and European funds programming assessor, Davide Baruffi, “we were able to activate a 30-year loan from the European Investment Bank, with a ceiling of 200 million.”
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“We plan to start drawing on the EIB loan in January, when we will already have positive cash flows generated by the rents that will allow us to finance the loan repayment installments. As the municipalities make the properties available for renovation or redevelopment, the plan will move forward,” Paglia specifies.
How the Emilia-Romagna housing plan works
In recent months, the region asked municipalities to express interest in financing interventions on: 1) public housing (the so-called ERP) whose renovation costs exceed 25,000 euros; 2) ERP properties requiring energy redevelopment; 3) any areas to be regenerated or buildings to be redeveloped (former offices or old unused schools, for example).
The region pays for the renovation work and in return the municipalities transfer the rental income to the region for 30 years.
Public housing (ERP) will become “ERS,” social residential housing, intended for the so-called “grey area” which is increasingly broad, meaning families with an income too high to qualify for public housing but too low to afford market rent. The plan targets households with an ISEE between 8,000 and 35,000 euros. “We have already collected everything,” explains the assessor. “The cities from which the most requests have come are Reggio Emilia and Ferrara, with more than 200 each.”
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