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<br />DREAM Initiative <br /> <br /> <br /> <br /> <br />DOWNTOWN REVITALIZATION AND <br />ECONOMIC <br />ASSISTANCE FOR MISSOURI "D . R. E . A. Mil <br /> <br />Home I Governor's Letter I About D . R . E . A . M I Target Communities I D. R . E . A . M Opportunities I <br />Application and Guidelines I Contact Us <br /> <br />Public Infrastructure Bond Tax Credit Program. <br />Similar to the Contribution for Tax Credit program, <br />V E this program may be used by the Board to guaranty its <br />public infrastructure bond issues, the proceeds of <br />which are loaned to the applying municipality to fund <br />or partially fund public improvements critical and <br />necessary to cause other public and private investment <br />to occur in redevelopment areas. For purposes of <br />D.R.E.A.M, the Board will prioritize this program to <br />approved downtown redevelopment district <br />participants. Board loan proceeds may be used for <br />improvements to streets, sidewalks, lighting, storm <br />and/or waste water improvements, land acquisition, <br />relocation, demolition, renovation, and any other <br />public costs necessary to support a redevelopment <br />project. Borrowers must demonstrate a reasonable <br />ability to repay; however in the event projected <br />revenue streams are insufficient to allow full <br />repayment this program authorizes the use of tax <br />credits to provide full bond repayment. This program <br />may be used in conjunction with TIF, NID, CID, TDD, <br />LCRA's, Urban Redevelopment Corporations, or other <br /> <br />N <br /> <br />T <br /> <br />A T <br /> <br />http://www.dream.mo.gov/publicinfra.htm <br /> <br />Public Infrastructure Assistance <br /> <br />Contribution for Tax Credit Program. <br />This program provides a 50% tax credit to contributors <br />making a contribution directly to the Board's <br />Infrastructure Development and Reserve Fund. Subject <br />to approving applications from local municipalities, the <br />Board will grant contribution proceeds to the applicant <br />to partially fund public infrastructure improvements <br />critical and necessary to support and leverage other <br />public and private investment into and redevelopment <br />of downtown business districts. Please refer to the <br />program Guidelines and application process on the <br />Board's web site for additional information. Please <br />contact the Board for a copy of the application. <br /> <br />Page 1 of2 <br /> <br />7/5/2006 <br />