Evaluation with SROI methodology of the regeneration project for the Mondeggi Estate

Title Social impact evaluation using SROI methodology of the social, cultural and agricultural regeneration project of the Mondeggi Estate

Location  Metropolitan City of Florence, Italy

Duration February- September 2024

Partners DISEI  – Department of Economics and Management of the University of Florence

Funding Città Metropolitana di Firenze

Context

The Metropolitan City of Florence has launched a project for the redevelopment of the Mondeggi Estate financed by the ‘Integrated Plans – M5C2 – Investment 2.2’ line under the PNRR, which will be completed by 2026. The project envisages the redevelopment of the buildings and main infrastructures on the estate, as well as the wooded areas that will be maintained and made accessible and the agricultural land that will be put under cultivation. The design phase, which was based on the project drawn up by the University of Florence with the collaboration of ARCO, began in 2022. The Metropolitan City of Florence asked DISEI and ARCO to assess the social impact that the project will generate.

General Objective

In order to estimate the potential social impact generated by the project, the SROI – Social Return On Investment methodology was adopted, the result of which indicates for every euro invested in the redevelopment project, what social impact is expected to be generated. In addition to constituting a valid communication and accountability tool useful to increase transparency in the use of resources and attract new funding by virtue of the proven validity of the organisations’ work, the SROI methodology also offers the organisations important cues for revising their social and environmental impact strategies, monitoring local needs, and strengthening collaborations and synergies useful to increase the community’s wellbeing.

Our contribution

Since this is a forecast SROI analysis on a project that is still being defined, the research team hypothesised scenarios of activities and types of bodies that will be involved in the new management of the estate on the basis of what is set out in the regeneration project, what was declared by the stakeholders involved during the analysis (first and foremost the Metropolitan City of Florence) and, finally, the list of aims and activities declared in the statute of the ‘Mondeggi Sostenibile’ Foundation. The SROI index therefore describes a forecast estimate of the social and economic impact of the Mondeggi Estate regeneration project on beneficiaries and stakeholders.

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