УДК: 330.341.2

DOI: https://doi.org/10.36887/2415-8453-2020-2-14

Oleksiy Oleksandrovych TOPCHIY
PhD, doctoral student, Institute of Economics of Nature Management and Sustainable Development of the National Academy of Sciences of Ukraine
PhD, doctoral student, Institute of Economics of Nature Management and Sustainable Development of the National Academy of Sciences of Ukraine

JEL classification: C00, L97, L98, L99, R10, R23

Abstract
Introduction. One of the defining directions of the management system transformation of socio-economic development of the national economy of Ukraine is the gradual implementation of decentralization reform, which involves redistribution of powers, financial flows and resources between levels of government, reformatting the administrative structure of territories and shifting responsibility for their development to local governments. The strategic goal of the reform is to form an optimal organizational and administrative structure of territorial management based on the duality of power and democracy, which will stimulate their advanced economic development, modernize infrastructure, improve living standards and effectively solve community problems.
The purpose of the article is to analyze the regional features of investment support for the development and modernization of housing and communal services of urban agglomerations.
Results. The analysis of financial support for UTC development showed that the consolidation of territorial communities creates better conditions for development and investment primarily due to the effect of synergies and scale, which allows for more ambitious projects to build infrastructure, improve housing management systems, create a favorable business environment and additional jobs. All this testifies in favor of the development of urban agglomerations, which create opportunities for inter-territorial integration of social and economic development.
Conclusions. It is proved that in order to attract investment in the development of housing and communal services (including local territorial projects) and modernization of their infrastructure, which can potentially bring economic effect, it is necessary to introduce and improve tools of alternative financing, successfully used in developed economies, in particular: leasing, corporatization, project financing, forfaiting, debt financing, concession investment, mixed financing.
Key words: investment provision, modernization, housing and communal services, regional features.

References
1. Monitoryng procesu decentralizacii’ vlady ta reformuvannja miscevogo samovrjaduvannja. [Monitoring the process of decentralization of power and reform of local self-government]. (2020). Ministry of Community and Territorial Development. Available at: https://decentralization.gov.ua/uploads/library/file/506/10.12.2019.pdf
2. Ovcharenko T. «Modeling of effective financial activity. Consolidated approach». Available at: https://www.undp.org/content/dam/ukraine/docs/Donbas/RPP/UA-UNDP-financial-operations-for-local-gov-ATC-1.pdf
3. Decentralizacija daje mozhlyvosti. [Decentralization provides opportunities]. Available at: https://decentralization.gov.ua/areas
4. Bryl, M., Vrublevsky, O., Dancheva, O., Seitosmanov, A. and Chubarov, E. (2018). Uspishna terytorial’na gromada: budujemo razom. [Successful territorial community: building together]. Factor. Kharkiv. Ukraine. Available at: https://despro.org.ua/library/publication/UspishnaTerytorialnaHromada2018.pdf
5. Irtyshcheva, I., Kramarenko, I., Shults, S., Boiko, Y. & other. (2020). «Building favorable investment climate for economic development». Accounting. Volume 6. Number 5, pp. 773-780.
6. Rogatina, L.P., Irtyshcheva, I.O., Kramarenko, I.S., Andryushchenko, E.G. and Bilan, V.V. (2020). Investytsijna skladova ekonomichnoi bezpeky: mikro-, mezo-, makrorivni. [Investment component of economic security: micro-, meso-, macro-levels]. Efekty`vna ekonomika. [Effective economy]. (electronic journal). no. 5. Available at: http://www.economy.nayka.com.ua/?op=1&z=7871.
7. Irtyshcheva, I.O., Stegney, M.I. and Spider, M.I. (2014). «Methodical approaches to determining the level of investment attractiveness of the industry, enterprise». Bulletin of KhNAU. Series: Economic Sciences. № 7, pp. 316–328.
8. Kramarenko, I.S., Irtyshcheva, I.O., Senkevich, O.F., Topchiy, O.O. and Voit, D.S. (2020). Strukturno-dynamichni kharakterystyky investytsijnykh resursiv rehioniv. [Structural and dynamic characteristics of investment resources of regions]. Efekty`vna ekonomika. [Effective economy]. (electronic journal). no. 3. Available at: http://www.economy.nayka.com.ua/pdf/3_2020/82.pdf.

The article was received 22.03.2020