Page 62 - U4SSC Compendium of practices on innovative financing for smart sustainable cities projects
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Observations
• The private management of Ogal Shiwa Co. made it possible to construct a public facility at a
reduced cost, enabling the SPV to pay back loans quicker than initially planned.
• Tax revenue generated within the Ogal area can cover the operation and maintenance cost
of the public facilities (library, cultural centre, after-school childcare, etc.) and allows the town
to invest in additional facilities and projects, like the renovation of old school buildings and
improvements in community transportation.
• People embraced the project’s success and regained confidence to act proactively in their
communities.
Figure 13: Ogal Shiwa – Public real estate programme (Japan)
Before After
Library in Ogal Plaza Town Hall
Photos/Illustrations
Photo credit: Shiwa Town
50 Compendium of practices on innovative financing for SSC projects | January 2023
