Innovative Financing Models for Sustainable Urban Development

 

Investments in sustainable urban development projects consist of the revitalization of urban brownfields, the expansion of social and technical infrastructure as well as energy-efficient refurbishment in housing. All projects have in common that they render two kinds of returns – a social and/or ecological return for public authorities (upgrading of city districts, raising the quality of life of urban citizens, saving CO2) and also a financial/economic return.

Due to the hybrid character of sustainable urban development projects – rendering social/ecological returns and (limited) economic returns – in 2007 the EU commission has introduced urban development funds as an efficient financing alternative to traditional grant financing. Financial intermediaries provide revolving financing instruments – equity, loans, and guarantees – to sustainable urban development projects instead of (lost) grants. The aim of the fund model is to create a sustainable and self-sustaining financing model for sustainable urban development projects based on revolving project returns and the additional generation of private capital and know-how (investors, banks, project developers). The challenge of this research is to coordinate the interests of all stakeholders with different risk-return preferences by developing innovative corporate governance fund models.

Contact

Name

Claudia Nadler

OStR i.H.

Phone

work
+49 241 80 93649

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Publications:

Nadler, C./Nadler, M. (2017): Promoting investment in sustainable urban development with JESSICA: Outcomes of a new EU policy initiative. In: Urban Studies. DOI: https://doi.org/10.1177/0042098017702815

Kreuz, C./Nadler, M. (2011): Stadtentwicklungsfonds in Deutschland – ExWoSt-Forschungsfeld, Hrsg. BBR/BMVBS, Bonn, Berlin 2011.

Kreuz, C./Nadler, M. (2010): JESSICA – UDF typologies and governance structures in the context of JESSICA implementation. Brussels. Available at: http://ec.europa.eu/regional_policy/archive/funds/2007/jjj/doc/pdf/jessica/udf_typologies.pdf.

Jakubowski, P./Kreuz, C./Nadler, M. (2010): JESSICA und Stadtentwicklungsfonds: Neue Impulse für das Flächenrecycling? In: Informationen zur Raumordnung, Nr. 1, 2010, S. 43-58.

Kreuz, C./Nadler, M. (2011): Stadtentwicklungsfonds in Deutschland – ExWoSt-Forschungsfeld, Hrsg. BBR/BMVBS, Bonn, Berlin 2011.

Kreuz, C./Nadler, M. (2010): JESSICA – UDF Typologies and Governance Structures in the context of JESSICA implementation, Luxemburg 2010.

Kreuz, C./Nadler, M. (2009): Einführung von Stadtentwicklungsfonds in Deutschland, ExWoSt-Heft Nr. 1, Hrsg. BBR/BMVBS, Bonn, Berlin 2009.

Kreuz, C./Nadler, M. (2009): Umsetzung der EU-Initiative JESSICA und internationaler Best-Practice-Vergleich zu neuen Finanzierungsformen in der Stadtentwicklung, Hrsg. BBR/BMVBS, Bonn, Berlin 2009.

Kreuz, C./Nadler, M. (2008): Urban Development Funds in Europe – Ideas for implementing the JESSICA Initia­tive – Report for the Marseille meeting of EU Urban Policy Ministers – 25.11.2008.