Mechanisms of Financing Investment in Immovable Cultural Heritage

Abstract

Protected values of cultural heritage represent a dynamic category, an item, which is not intended only for preservation, but also for improvement. Based on this fact, it is necessary to set up a starting point that immovable cultural heritage has been under the degradation process or the process of reducing its value from the day of its origin, which can be „slowed-down“ by appropriate maintenance. Architectural heritage is found in a paradoxical situation where a regulatory system of mandatory preservation measures and obligations is being established on the one hand, while a poor concern for such heritage is recorded on the other hand. The funds invested in renovation of immovable heritage do not reach assessed values attributed to individual property. The authors address in their work the issue concerning the effectiveness of the immovable cultural heritage protection from the aspect of national funding systems, as well as from the aspect of interstate funding sources and financing programmes.