In order to activate the sale procedure for public assets, the property must be listed in the “Real Estate Sale and Development Plan“, a document (drafted by Municipalities, Provinces, Regions and other Local Public Bodies, as well as by companies or bodies completely controlled by the aforementioned entities, usually available to the public on their respective websites) in which the sale and/or development strategy is defined by the owner of the public asset portfolio.
Launch of a Call for Tender
The Procedure for the Sale of Publicly-Owned Real Estate Assets, already included in the Real Estate Sale and Development Plan usually begins with the publication of a Call for tender on the institutional website of owner of the public asset. Any investor interested– according to the nature of the call– can:
- View any document concerning the real estate asset and carry out on-site verification. During the verification, the investor shall receive all useful documentation in order to verify urban, building and Land Registry’s conformity and to detect the absence of burdens, constrains and encumbrances that would limit its free use;
- Request clarifications to the Person responsible for the procedure on behalf of the owner of the property (the individual appointed as reference by public owner for the sale procedure; its name shall be specified in the Call for tender);
- Make a binding offer within the time limit and according to the modalities specified in the call for tender.
If not otherwise expressed in the call, the tender is valid for 180 days from the expiry date for the submission of the tender. This period is meant to safeguard the competitor, preventing any eventual lengthiness of the procedure to become detrimental. In case no contract has been signed after the expiry of such period, the competitor can waive his tender or confirm it, either tacitly (e.g. by signing the contract) or expressly, also following a request from the Contracting Authority. Once the tender is confirmed, the effectiveness of any eventual guarantee issued during the participation to the call shall be extended.
Identification of Best Tender
The call is usually won by the subject who offers the highest price.
Exclusion Criteria and Proof of Compliance
With reference to the general requirements laid down in the current legislation for participating in public tenders, notwithstanding the requirement to verify any eventual provision of each specific call, it is necessary to specify that:
- Usually, by moral requirements, reference is made to those provided for in Art. 80, D.L. no.50 of 18/04/2016 “Code of Public Contracts”; the competitor shall prove to hold the aforementioned requirements when taking part in the call, to be verified by the Contracting Authority once the tender has been submitted. More specifically, public administrations may request the following documents: a certificate issued by the Criminal Records Office or, if unavailable, an equivalent document issued by the judicial or administrative authority of the Member State or of the Country of origin in which the envisaged requirements are met; appropriate certification issued by the competent fiscal authority and, as far as social security contributions are concerned, the certificate of social security compliance automatically acquired by the public administration from social security institutions pursuant to current legislation or, if unavailable, an equivalent certificate issued by competent authorities of other States.
- Economic and financial standing of the economic operator, declared upon taking part in the call, can be proved through one or more of the following: appropriate bank declarations or, if any, evidence of relevant professional risk’s indemnity insurance; the presentation of balance sheets or extracts from balance sheets, where publication of the balance sheet is required under the law of the country in which the economic operator is established; a statement of the undertaking’s overall turnover and, if any, of turnover in the area covered by the contract for a maximum of the last three financial years available, depending on the date on which the undertaking was set up or the economic operator started trading, insofar as the information of these turnovers is available. If, for any valid reason, the economic operator is unable to provide the references requested by the contracting authority, he may prove his economic and financial standing by any other document which the contracting authority considers appropriate.
- The technical capability of the economic operator, declared upon taking part in the call, can be proved, inter alia, by: a) a list of the works carried out over the past five years, with the sums, dates and recipients, whether public or private, involved; b) the indication of the technicians or technical bodies involved, whether or not belonging directly to the economic operator’s undertaking, especially those responsible for quality control; c) a description of the technical facilities and measures used by the economic operator for ensuring quality as well as the undertaking’s study and research facilities; the educational and professional qualifications of the service provider or contractor and/or those of the undertaking’s managerial staff, provided they are not evaluated as award criteria; e) a statement of the average annual manpower of the service provider or contractor and the number of managerial staff for the last three years; f) a statement of the tools, plant or technical equipment available to the service provider or contractor for carrying out the contract.
30-45 days for completing the selection of the buyer.
Costs related to technical-administrative verification and to thetender preparation.