Financing the Conservation of the Architectural Heritage in Western Europe and North America

Tracy Pickerill

ERES from European Real Estate Society (ERES)

Abstract: The ability of government to provide financial assistance for the repair and maintenance of the architectural heritage is limited due to the finite nature of resources. This paper provides a comparative investigation of architectural heritage regulatory and allied funding mechanisms in operation in a number of countries in Western Europe and North America to encourage the repair and maintenance of heritage assets. The financial burden of public and private stakeholders in the conservation process is considered to secure sustainable conservation practices and cultural identities. The new ëgovernance' approach to architectural heritage conservation is highlighted through a collaboration of public/private partnership arrangements involving heritage trusts, foundations, limited liability companies and local communities. The paper identifies two bodies of knowledge that are critical to the new ëgovernance' of financing the conservation of the architectural heritage: i. Tool knowledge: the operating characteristics of the different tools used to finance the conservation of the architectural heritage; the stakeholders they engage; and how they influence conservation activity; ii. Design knowledge: how to match tools to architectural heritage funding problems in light of conservation objectives and political traditions. // Finally, a conceptual area-based architectural heritage funding model is developed to inform the future evolution of heritage funding policies.

JEL-codes: R3 (search for similar items in EconPapers)
Date: 2005-01-01
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Persistent link: https://EconPapers.repec.org/RePEc:arz:wpaper:eres2005_286

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