Finance and Assets

Property to serve the public: the Council approves the municipal property management strategy

Following the optimisation of property and financial management solutions a year ago and the subsequent publication of all the data on its property, the City of Vilnius took another important step by approving a new municipal property management strategy. An appropriate property management and the maximum social and economic return for the people are among the major priorities of the strategy.
The City and its controlled companies own different property, including premises, buildings, engineering structures, which until now required EUR 16.75 million for their maintenance. City supports different organisations by lending or leasing premises under preferential conditions, which amounts to more than EUR 3.3 million.
The review of the total municipal property in 2015 revealed some items that could have been sold for a long time, but were not on the list. The list has been revised and endorsed by the Council to be regularly updated. The City now sells the redundant property, which is costly to maintain.
The strategy provides for public or e-auction sale of property with a view to making information more accessible to potential buyers. The City has already signed an agreement with the Centre of Registers for the sale of property through an e- auction. This type of sale is transparent and efficient and it simplifies purchasing procedures. The City of Vilnius happens to be the first in Lithuania to sell its property through e-auctions:
For the purpose of the optimisation of the managed property, the City has developed a number of measures, including an inventory and registration of previously unlisted property as municipal property, which falls into the following groups: the one for municipal needs and functions (trust, lending, and preferential lease), the one leased at market prices and the one to be sold. As regards the decisions on preferential terms of lease, efforts will be made to select the service provider who can bring the greatest social benefit and generate the highest added value. Efforts will also be made to tighten contract control and debt recovery, as well as to ensure that the municipal property is in good hands of a single authority (administrator).
The strategy provides for the development and introduction of a centralised property management information system enabling a detailed analysis of property data. Information about municipal property will be open and comprehensive. Everyone will have their say on the use of the property.
Since last year, information about the property controlled by the City (e.g. lending and lease contracts, and who and for how much is renting the premises) has been made public:

Mayor of Vilnius

For centuries, Vilnius has been a welcoming place for the peaceful coexistence of free citizens, while perfectly combining its magnificent history, spectacular natural environment and vibrant creativity. ❯❯❯
The Agenda

Municipal priorities

  • Build and implement a strategic vision of the city
  • Provide high quality services to the population
  • Attract investments that create well-paid jobs
  • Be transparent, efficient and open to the residents, visitors and investors