Forecast SROI analysis 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 the Local Development Unit to assess the social impact that the project will generate.

General Objective
In order to estimate the potential social impact generated by the project, ARCO adopted the SROI – Social Return On Investment methodology. The result of this analysis indicates for every euro invested in the redevelopment project, the social impact that is expected to be generated.
The forecast SROI analysis is proposed as a useful tool to guide choices based on the assumptions and hypotheses about the activities and actors involved.

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.

SROI index indice social return on investment social impact impatto sociale

The application of the methodology resulted in an SROI index of 2.03. This means that for every euro invested, a social and economic return of 2.03 euro will be generated over a 30-years period.