Governor’s Column - April 11, 2008
by Governor Matt Blunt
Many Communities are Living the Missouri DREAM
Missouri relies on its people and local economies to preserve a sense of place and cultural heritage in the hearts of their communities. We created the Downtown Revitalization Economic Assistance for Missouri (DREAM) Initiative to help Missouri's small and midsized communities realize their hopes and dreams for restoring a sense of pride in their communities.
The DREAM Initiative gives communities access to the technical and financial assistance necessary to accomplish their downtown revitalization plans. The initiative is helping re-establish properties for use in the downtown core, increase property tax values and sales tax opportunities, re-establish a sense of place and cultural heritage in the heart of the community, attract private investment and most importantly create good jobs for Missourians in downtowns all across our state.
Communities experiencing the benefits of the initiative are Aurora, Cape Girardeau, Caruthersville, Chillicothe, Clinton, Excelsior Springs, Hannibal, Hermann, Kennett, Kirksville, Maryville, Mexico, Neosho, Poplar Bluff, St. Joseph, Sedalia, Sikeston, Trenton, Washington, and West Plains.
Being a part of this initiative helps smaller communities and towns secure state support for their downtown projects that, without a planning department and other resources generally available to larger cities, might otherwise be difficult for them to access.
The Missouri Department of Economic Development, Missouri Development Finance Board and the Missouri Housing Development Commission are working together to help make DREAM a success. Each contributing partner lends its individual expertise and tools to this new comprehensive and collaborative approach to downtown revitalization.
Since we first announced Missouri's first ten DREAM communities in 2006, they have received more than $225 million in total investment for housing, construction and renovation projects and infrastructure improvements. Public investment in the communities to date totals $38 million, less than a fourth of the total private investments. Public funding secured through this exciting initiative has created an unprecedented $189 million in private investment to benefit the ten communities.
I created the DREAM Initiative to help ensure that our small and medium-sized communities are given the opportunity to share in economic development. We are committing ourselves to a long-term process working with each DREAM community to facilitate their continuing efforts to improve the economic standing of every Missourian.