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The City of Milan is selling 23 barracks to the fund Invimit earning 50 million by the end of 2018

15 February, La Repubblica

For three barracks the operations are almost completed, while the other 20 will follow suit: they will be sold by the City of Milan to the fund Invimit owned by the Ministry of Economy to use the earnings to finance its expenditure. For what concerns the 2018 budget, the sales of the barracks are estimated to bring 50 million to the municipal finances. The first barracks to be sold are those located in Via Marconi 1, Via Lago di Nemi 33, Via della Missaglia 57. The barracks are occupied by carabinieri, police, finance police, and the army or, in some cases, they’re vacant.

The City Councillor for Budget Roberto Tasca communicated this decision after having illustrated the new budget to the municipal committee. The City has been working lately to map its real estate assets to figure what could be sold, in order to get some earnings without impacting the essential public functions. Hence, it was decided for the 23 barracks. The plan has started with the new year, and the City has already concluded the agreement with Invimit to transfer the first 3.

It will be up to Invimit what to do with these properties: those still occupied will continue to have the same functions, while it’s still not known how the vacant ones will be used. In any case, the City of Milan aims at getting some earnings from the operation: 50 million will bring oxygen to its struggling finances. Even though this money cannot be used directly to avoid the likely price increase of the public transport.

Source: La Repubblica

Translator: Cristina Ambrosi


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