JESSICA 2014-2020 Evaluation Study for the Lorraine Region
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Financial Instruments (FI) are expected to play a stronger role in sustainable urban development projects in the 2014-2020 programming period. Besides the advantages of recycling funds over the long term, Financial Instruments related to urban development will help to mobilise additional private co-investments in order to address market failures in line with the Europe 2020 Strategy and Cohesion Policy priorities1.
This evaluation study consists of an analysis of the potential intervention of an Urban Development Fund-type Financial Instrument in the French region of Lorraine during the 2014-2020 programming period. It aims to determine how FIs can facilitate and amplify investments in the field of sustainable urban development, and to formulate evidence-based recommendations for the implementation of such instruments.
The study initially focuses on the analysis of the regional context of urban development based on macroeconomic analysis and then considers the regulatory and planning documents on urban development. The results of the implementation of the 2007-2013 ERDF Operational Programme are also taken into account in order to learn lessons for the future programming period. It also presents a description of the urban development market through an analysis of the demand for funding (review of potential projects already planned), the detection of market segments and market failures and finally the analysis of the offer with the identification of the existing sources of funding for urban development.
From a pool of urban development projects potentially eligible three case studies are presented to illustrate the intervention approach of Urban Development Fund-type Financial Instruments in Lorraine and provide examples of operational setting-up.
The report proceeds with the conclusions and the recommendations in terms of structure and investment strategies for an FI dedicated to urban development in the Lorraine region and it proposes an action plan for the establishment of such an instrument in the framework of structural funds 2014-2020 programming period.
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