Reggio Emilia Municipality and Cassa Depositi e Prestiti (CDP) have signed a Memorandum of Understanding to boost urban regeneration, supporting initiatives to upgrade iconic city buildings through projects that will also have a sustainable impact on the local economy.
The partnership will enable the municipal council to grasp opportunities stemming from the InvestEU Programme, drawing on the technical and financial support of CDP in its role as an Advisory Partner to the European Commission, within the European Investment Advisory Hub created by the European Union.
CDP will provide the Emilian municipality with technical and operational advice, performing impact assessments conducive to a process of transformation, redevelopment and regeneration of the entire Reggio area, as part of the wider General Urban Plan created by the municipality. The aim is to restore the town to being a place of historical, symbolic and economic value.
The MoU, valid until the end of 2024, will also see CDP advise the municipality on the best functional mix of areas earmarked for social and sustainable facilities. The municipal council also plans to refurbish other buildings in the same area undergoing regeneration to create housing for local students and workers.