Selection process begins for second DREAM initiative

Blunt unveiled the first DREAM initiative last summer in downtown Springfield. The program aids cities with their downtown revitalization efforts by providing financial and technical assistance via state agencies. Although the initiative is designed to aid smaller and mid-size municipalities, any Missouri city may apply for DREAM assistance.

In its first year, the program received applications from nearly 100 cities, including Springfield, Branson, Ozark, Aurora, Ash Grove, Joplin, Carl Junction, Webb City, Carthage, Strafford and Willard. Two southwest Missouri cities – Neosho and West Plains – were among the 10 applicants selected for assistance.

“The first year of our DREAM initiative was a tremendous success,” Blunt said in a news release. “The Missouri communities that were selected are all much closer to making their dreams of downtown revitalization come true. I strongly encourage Missouri community leaders to apply for assistance in helping revitalize their downtown regions to help create jobs and enhance opportunities for their fellow citizens.”

Cities chosen to participate in the program learn about various incentive packages, such as tax credits and federal block grants, and could receive assistance with feasibility studies that often precede comprehensive redevelopment plans.

State officials have said the initiative, which comes at no additional cost to taxpayers, streamlines access to existing programs, such as historic preservation, façade renovation and public infrastructure improvements.

The DREAM initiative is led by the Missouri Department of Economic Development, which works closely with the Missouri Housing Development Commission and Missouri Development Finance Board to assist selected communities.

DREAM Big

Applications for the 2007 Downtown Revitalization and Economic Assistance for Missouri are due by 5 p.m. July 6 and may be obtained at www.dream.mo.gov. Two applications are available: one for previous applicants who were not selected and another for first-time applicants.

Gov. Matt Blunt plans to announce the 2007 DREAM communities at the Governor’s Conference on Economic Development in August.

This story originally appeared in SBJ’s May 15 free e-news Daily Update. Click here to register.[[In-content Ad]]