REDO LOMBARDY SOCIAL HOUSING

Promoter – Financial Intermediary

INTESA SANPAOLO SPA,REDO SOCIETA DI GESTIONE DEL RISPARMIO SPA - SOCIETA BENEFIT

Location

• Italy

Description

The project will primarily support investments for the construction of energy-efficient affordable housing (Edilizia Residenziale Sociale) units in the Lombardy Region, and to a minor extent social housing (Edilizia Residenziale Pubblica) and student housing units (Edilizia Scolastica e Universitaria) in the same region.

Objectives

The project is expected to contribute to the urban environment by helping to promote urban renewal and to provide affordable accommodation. Investments are expected to contribute to urban regeneration and, in the long-term, better social integration of different income groups. Moreover, due to construction typically being labour-intensive, the use of a local workforce, including unemployed, low-skilled workers and apprentices, the investments are expected to contribute to growth and employment during implementation of the investments (to be verified during the appraisal).

Comments

N/A

Sector(s)

• Urban development - Construction

Proposed EIB finance (Approximate amount)

EUR 200 million

Total cost (Approximate amount)

EUR 414 million

Environmental aspects

Compliance with the relevant EU Directives will be verified during appraisal stage: EIA Directive 2014/52/EU amending the EIA Directive 2011/92/EU, SEA Directive 2001/42/EC, EU Habitats Directive 92/43/EEC and EU Birds Directive 2009/147/EC. The status of any environmental studies and public consultations related to the investments will be reviewed during project appraisal. Energy efficiency requirements in line with the EU Directive on the Energy Performance of Buildings 2010/31/EU will also be further assessed.

Procurement

The Promoter has been assessed by the EIB as being a private company not subject to EU rules on public procurement or concessions. However, if at the project appraisal, the EIB were to conclude that the Promoter is subject to EU public procurement legislation, then the Bank would duly inform the Commission Services and would require the Promoter to apply those rules. In addition to the social housing investment, as part of the special agreement with the related municipalities, the Promoter might also be responsible for provision of related public infrastructure such as connection streets and arrangement of common public spaces in the building clusters. In that case, the Promoter will follow relevant applicable EU procurement legislation. Then, the Bank will require that the Promoter ensure that contracts for the implementation of the related components of the project will be tendered in accordance with the relevant applicable EU procurement legislation: Directive 2014/23/EU, 2014/24/EU and/or 2014/25/EU, where applicable, as well as Directive 92/13/EEC or Directive 89/665/EEC, as interpreted by the Court of Justice of the EU, with publication of tender notices in the Official Journal of the EU, as and where required.

Status

Signed - 22/12/2020