KANSAS CITY, MO – September 12, 2008 – (RealEstateRama) — Ten additional small and mid-sized communities in Missouri will have new opportunities to transform their downtown areas and create new jobs through an economic development initiative created by Gov. Matt Blunt. Gov. Blunt today announced the 10 Missouri communities selected to participate in the 2008 DREAM (Downtown Revitalization and Economic Assistance for Missouri) Initiative.
Gov. Blunt’s initiative helps communities more efficiently and effectively engage in downtown redevelopment and revitalization efforts.
Boonville, Farmington, Fulton, Lamar, Lebanon, Louisiana, Macon, Strafford, Warrensburg and Webb City are the third round of communities inducted in the governor’s DREAM Initiative.
“This is great news for these communities,” Gov. Blunt said. “Missouri relies on its local economies and the investment of Missourians who are interested in preserving a sense of place and cultural heritage in the hearts of their communities. I congratulate this year’s DREAM communities and look forward to working with them to provide the tools and resources they need to enhance their downtowns and neighborhoods.”
Gov. Blunt unveiled the DREAM Initiative in 2006 to provide Missouri’s small and mid-sized towns the same access to economic development tools as larger communities. Selected communities become active members of the DREAM Initiative for three-years and gain prioritized access to state supported programs through ongoing cooperation among several unique agencies and funding sources. Programs include technical and financial assistance for infrastructure improvements, historic preservation, affordable housing, community services, business development and job creation.
“When I tasked the Department of Economic Development to evaluate our economic incentives, they found these tools were underutilized by small and medium communities because of their complexity,” Gov. Blunt said. “Under the old way, these communities were too often left out of economic development opportunities that larger communities enjoyed. With the DREAM initiative, we changed that system and leveled the playing field to give our small and medium sized communities the same access to downtown development tools as our largest cities.”
The governor’s DREAM Initiative supports a comprehensive approach to concentrate resources and available tools to allow communities to accomplish their broad-based and long term revitalization and redevelopment goals more quickly than ever before.
In addition all 26 applicants will benefit from the governor’s new initiative as well. They will receive:
– technical assistance
– exclusive invitations to a series of revitalization training opportunities and seminars
– the chance to learn about existing redevelopment programs, how they work and how to best access available tools
Applications were evaluated by representatives from the three DREAM Initiative partners, the Missouri Department of Economic Development, the Missouri Development Finance Board and the Missouri Housing Development Commission. The evaluation process included confirming applications were complete and attention to community capacity, vision, opportunity for private investment, broad community support and a comprehensive approach.
Several of this year’s new DREAM communities are also working to recover from natural disasters over the last several months. The DREAM assistance and revitalization will be helpful as they work to strengthen ties to their downtowns and city centers.
Previously, Aurora, Cape Girardeau, Caruthersville, Chillicothe, Clinton, Excelsior Springs, Hannibal, Hermann, Kennett, Kirksville, Maryville, Mexico, Neosho, Poplar Bluff, Sikeston, St. Joseph, Sedalia, Trenton, Washington, and West Plains were named DREAM communities. Together, they have received more than $46 million in state grants to rebuild, revitalize, and rejuvenate their downtowns. The investment has generated impressive returns in private donations, led to job creation, and helped breathe new life into Missouri communities.
Contact:
Jessica Robinson, 573-751-0290
