Decision support model for conservation, reuse and valorization of the historic cultural heritage

Abstract

In the last twenty years the policies of conservation of cultural heritage have become central policies among the European community. This is due to the importance attributed to the use of heritage as cultural capital and as a potential factor for tourism; another reason is represented by the objective of supporting the importance of cultural values for the identity of the territories, for its intrinsic value and as an investment for the cultural, social and economic development. Starting from the application of the Discounted Cash-Flow Analysis, the study support the public decision to locate the best appropriate use (Highest and Best Use) relating to the conservation and reuse of a historic building located in Southern (Italy). Different scenarios are considered and evaluated from the point of view of the public and private convenience considering the Internal Rate of Return and the Net Present Value indicators. The final results are also verified by means of specific sensitivity analyses that allow the validity of the proposed model to be tested.