1. Workshop 6 Funding and Finance Green Growth : New Shoots 10 th May 2012 – Sheffield UK Stefan Kreutz HafenCity University Hamburg HCU

2. Green Growth : New Shoots 10 th May 2012 – Sheffield UK Benefits and values of quality open spaces are manifold: Social values Environmental values Economical values Cultural values … Investments are necessary to create and to use these benefits/values and to secure them in the long-run – that’s what place-making and place-keeping is about

4. Green Growth : New Shoots 10 th May 2012 – Sheffield UK Funding and Finance in place-keeping Modes of funding maintenance and operation of open spaces and the need to secure long-term financial resources to safeguard the values of open spaces, i.e. Capital - to pay for one-off improvements, construction, renovations and equipment Revenue (or operating funds) - to pay for general maintenance and staffing

5. Green Growth : New Shoots 10 th May 2012 – Sheffield UK Sources of Funding – The Public Sector Several public levels: city, region, federal, European Lack of guaranteed funding – pk is not a statutory task Competition between city departments and infrastructures, e.g. education, fire, culture, sports etc. Danger of “zero-sum games” Procurement regulations, tendering processes and contractual arrangements Influence of political decisions

6. Green Growth : New Shoots 10 th May 2012 – Sheffield UK Sources of Funding – The Private Sector Open Space as a public good and a public asset – but also sometimes as private property Open Space has an influence on property values Private funding of open spaces: individual donors, public- private organisations, foundations, businesses, proprietors

7. Green Growth : New Shoots 10 th May 2012 – Sheffield UK Sources of Funding – The Third Sector Community organisations or charities Voluntary work of community groups and individuals Investment of money, time, know-how etc. Not on a strategic or citywide level but with a focus on single open spaces

8. Green Growth : New Shoots 10 th May 2012 – Sheffield UK Key issues of Funding and Finance Valuation of open space and the direct and indirect effects, e.g. impact of open space quantities and qualities on property values Calculation of long-term running place-keeping costs (consequential costs) from the beginning, e.g. “whole- life-costing” approach: information on the maintenance and replacement costs over lifetime Co-production from planning to maintaining

9. Green Growth : New Shoots 10 th May 2012 – Sheffield UK Recommendations for Funding and Finance Long-term management as an integral part of place-making processes Transparency of public sector activities Multiple stakeholder approach (“open space as a joint responsibility”) Regulations for multiple funding

10. Green Growth : New Shoots 10 th May 2012 – Sheffield UK Experience from the MP4 pilots Plans and agreements shall include long-term management from the beginning Co-production of open spaces requires co-management and co-funding of PK A mix of sources enhances the responsibilities of several stakeholders for place-keeping (“You take care of what you pay for”) If budgets come from several sources, one loss might put the whole budget at risk

11. Green Growth : New Shoots 10 th May 2012 – Sheffield UK Green Estate Sheffield / UK Business and Neighbourhood Improvement Districts Hamburg / Germany Emmen Revisited / Netherlands

12. Green Growth : New Shoots 10 th May 2012 – Sheffield UK Place-keeping is not only about funding – but without secured funding there is no place-keeping! Open spaces need secure funding for long-term maintenance and management to safeguard their qualities and benefits - but regular public budgets are no longer sufficient. Beside multiple-funding from public sources private investments in open spaces "on top" of public activities are becoming more and more essential.

13. Green Growth : New Shoots 10 th May 2012 – Sheffield UK Key Questions What kind of regulations and rules are necessary for mixed-funding from multiple stakeholders? How can economic benefits of open spaces be used for the funding of place-keeping? In the current climate are we able to deliver big bold visions or do we need to focus on more everyday basics?

14. Green Growth : New Shoots 10 th May 2012 – Sheffield UK