Baltera Dock Sale Finalized: Public Ownership and Facility Management Shift

The floating dock at Baltera has been owned by Lido di Riva spa for a week. The sale from Immobiliare Rosmini, represented by entrepreneurs Lazzara and Mandelli, to the public company in which the municipality holds the majority stake was finalized after an eight-month complex negotiation involving also Palacongressi srl, the company organizing trade fairs and conferences.

This operation marks a significant transition inherited by Mayor Malossini’s administration from the previous one led by Molinari: the separation between ownership of the assets—which must remain public, i.e., owned by Lido di Riva spa, with the majority of shares continuously held by the municipality—and management, assigned to Palacongressi srl, in which a private entity can have a decisive decision-making role.

Details on the Negotiation and the Pavilions

The negotiation, which will be detailed by President Mauro Malfer of Lido di Riva within a few days, involved pavilions B and C of the complex at Baltera. For Pavilion B, the so-called historic pavilion operational for a few years, Lido di Riva spa took over from Palacongressi srl the leasing agreement that the public-private partnership led by Gianni Zontini had with Immobiliare Rosmini.

For Pavilion C—the brand-new, recently completed pavilion that also includes the arena where Gs Riva aspires to play basketball—Lido di Riva spa acquired it directly from Immobiliare Rosmini. It is still unclear how and where the company sourced the approximately twenty billion lire needed to finalize the deal, which was supposed to be completed by July 31, the expiry date of the sale option signed last summer.

After that deadline, the 2 billion lire paid to Rosmini as a deposit would have become the pure rental fee for the first year of operation. The financing sources for Lido include: 5 billion paid by Tecnofin; 10 billion from a bond loan guaranteed by Tecnofin; and a 15 billion provincial contribution, promised but not yet received (funds will only be available once the PRG and PUP confirm that the area is designated as commercial zone rather than artisanal-industrial).

Revenue and Conclusion of the Transaction

An essential component of Lido spa‘s income is the rent paid by Palacongressi srl for the use of the facilities. Broadly speaking, the approximately 3 billion lire annually paid by the company—part as rent, part as lease—originally to Immobiliare Rosmini, will now be redirected to Lido, which will use the funds to pay off the construction walls.

Malfer is satisfied with the completion of this complex maneuver, which involved many interests and was highly laborious.