[Press Release] : Columbia seeks DREAM designation; wants to go from good to great

[pr-l at news.gocolumbiamo.com]

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FOR IMMEDIATE RELEASE 

Contact: Paula Hertwig Hopkins - (573) 874-7214

Columbia seeks DREAM designation; wants to go from good to great

COLUMBIA, MO (July 31, 2006) -- Columbia’s downtown could go from
good to great if it is awarded assistance through the state of
Missouri’s “Downtown Revitalization Economic Assistance for
Missouri” or DREAM Initiative. Gov. Matt Blunt unveiled the DREAM
Initiative last month during a visit to Columbia and several other
cities. Columbia is submitting its application today, ahead of the Aug,
1, 2006 deadline.

DREAM was created through a partnership of three state agencies: the
Missouri Department of Economic Development, the Missouri Development
Finance Board, and the Missouri Housing Development Commission. In all,
six to 10 communities will be given the opportunity for targeted
assistance aimed at revitalizing the downtown. The initiative proposes
to create several outcomes:

* Re-establish density and the re-use of existing properties in the
downtown central business district.
* Increase property values in the downtown central business
district.
* Increase sales tax revenues in the downtown central business
district.
* Attract private investment by leveraging state resources with other
public and private funds.

In its application, the city is proposing to increase the number of
downtown attractive residential units, add architecturally compatible
infill development downtown, develop artist living and working spaces
downtown, further incorporate the arts in downtown development and
complete public and private activities identified in the Avenue of the
Columns Plan. The application also discusses the creation of a Missouri
Downtown Economic Stimulus Act (MODESA) project, undertaking a market
feasibility study and considering a Community Improvement District (CID)
as a new organizational structure.

One key component of the program is whether or not applicants have the
ability to sustain the effort. The strength of the local proposal lies
in the community’s ability to ensure continuity and implementation of
actual projects. The Columbia City Council pledged its commitment to the
program in a Resolution. “Columbia will guarantee that the assistance
and resources provided by the DREAM Initiative will be utilized in the
most efficient and effective manner for the benefit of our wonderful
downtown,” said Mayor Darwin Hindman.

Numerous partners, a solid organizational structure and a full-time
executive director have been in place for many years.

"We know where we'd like The District to be in 10 years but we need
some help getting there," said Carrie Gartner, director of the Columbia
Special Business District. "The DREAM Initiative will help us take our
downtown to the next step."

“Downtown Columbia is poised on the threshold of an exciting
future,” said Mary Wilkerson, board member of the Special Business
District and chair of the Avenue of the Columns Committee. “Being a
DREAM city would provide resources that could move us from vision to
action in meeting our strategic goals for our central city.”

Assistance through the DREAM Initiative is needed to address
underutilized parcels, an abundance of surface parking lots or gaps in
the streetscape and building fabric that exist on portions of the Avenue
of the Columns, Flat Branch and around the periphery of The District.
The appropriate and compatible development of these areas will offer the
opportunity to become one of the top downtown districts, not only in
Missouri, but throughout the country.

The creation of this “can’t miss” destination will provide an
economic impact for the entire state while better positioning Missouri
as a place for the new generation of workers that select where they will
live based on a “cool places” lifestyle. Characteristics of such
places include walkability and a pedestrian friendly environment, a
vibrant downtown, eclectic shops and restaurants, live music, respect
for diversity, a place where historic preservation meets the new world
of technology, and an array of art and cultural offerings.

“Previous accomplishments have propelled us onto a new stage of
downtown development,” added Bill Watkins, city manager. “A primary
barrier to further progress is that the complexity of future projects
prevents us from implementing everything ‘in-house.’ This new stage
may necessitate more complicated and intricate technical assistance and
financial packages for mixed use, infill development projects.”

For additional information about Columbia’s application, contact
Paula Hertwig Hopkins, assistant city manager, at 874-7214. Information
about the DREAM initiative is available on the state of Missouri’s Web
site at www.dream.mo.gov.

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