‘Doing more with less’ or ‘doing less with less’? Assessing EU cohesion policy’s financial instruments for urban development

Figures & data

Figure 1. JESSICA implementation system.

Source: adapted from Kreuz and Nadler 2011 , p. 12.

Figure 2. JESSICA operations across the EU (as of August 2014). Green numbers indicate the amount of JESSICA Holding Funds managed by the EIB, while the red numbers indicate the number of UDF in a given country.

Source: adapted from EIB ( 2014 ).

Table 1. Examples of JESSICA projects in Wielkopolskie and Andalusia.

Location	Project promoter	Description of investment	Form of JESSICA support	Profit generation	Urban development impacts	Form of private involvement
Poznań, Wielkopolskie	Private company	Reconversion of a derelict industrial building into an office block	Loan	Rental of office space	The investment is located in a deprived area of Poznan city. Offices rented for free for training courses for the local youth; regeneration and maintenance of a public square. Expected positive impact on the image of the district.	Investor and project leader
Poznań, Wielkopolskie	Municipal company	Extension of a high-tech incubator located in a peripheral and deprived area of the city.	Loan	Rental of office and laboratory space	Expected positive impact on the image of the district and attraction of further investment	Firms as end users of the facilities
Leszno, Wielkopolskie *	Private company	Regeneration of a derelict urban space in the town centre around the newly built commercial and entertainment centre	Loan	Rental of retail space	Bringing economic and cultural activity to a derelict yet central part of the town; one of the regenerated buildings was to offered to the municipality for a public library/tourist information.	Investor and project leader
Jarocin, Wielkopolskie	Private company	Refurbishment of a disused office block to house a multimedia centre and the local newspaper	Loan	Headquarters of the local newspaper (investor)	Expected positive impact on the image of the district; provision of access to the multimedia centre for the local citizens and of space for workshops organised by non-governmental organisations	Investor, project leader and end user
Granada, Andalusia	Private company	Construction of a sports and commercial centre with underground parking lots in a formerly closed military zone	Loan and equity	Charges on the sport activities, parking and rental of retail space	Reconversion and reopening of a disused zone separating two densely populated areas of Granada; remedying the parking space shortage; one of the parking floors will be owned by the municipality and used by the local residents; provision of sports facilities to citizens.	Two private companies are the main investors (local promoter and sport facilities operator) operating under an administrative concession from the municipality, UDF managing company contributes with equity, and loan.
El Puerto de Santa Maria, Andalusia	Municipal company	Construction of underground parking lots in the centre of town	Equity and loan	Charges on parking spaces	Remedying the parking space shortage during the tourism high season. Provision of parking spaces for the local inhabitants; pedestrianisation of the area.	Private Special Purpose Vehicle – UDF managing company contributes with equity

* The project was initially approved but later withdrawn by the investor and was not realised.

Source: Author’s own elaboration.

Kreuz, C. , & Nadler, M. (2011). UDF typologies and governance structures in the context of JESSICA implementation . Brussels : DG REGIO.

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EIB . (2014). EIB JESSICA News brief (Vol. 29/08/2014). Luxemburg: EIB.

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