DREAM Initiative Sponsors

The DREAM Initiative is a true collaboration between the Missouri Development Finance Board, Missouri Department of Economic Development and Missouri Housing Development Commission. What each of these organizations brings to the table separately, they do better together.

Each agency has flexible resources that complement one another and the program, making a measurable difference in downtowns across Missouri. The agencies are able to recognize and respond to trends and the larger needs of DREAM communities. This statewide support adds value to downtown revitalization plans by providing professional urban planning and other private expertise.

Missouri Development Finance Board

The mission of the Missouri Development Finance Board (MDFB) is twofold. First, the agency finances economic development initiatives across the state of Missouri. Second, MDFB helps Missouri communities finance public sector infrastructure improvements.

MDFB’s economic development initiatives focus on the financing of private sector investments for job creation and retention in Missouri. The agency also actively seeks opportunities to expand capital investment within the state.

MDFB’s public infrastructure initiatives finance all types of public facilities and improvements. Many of these improvements also result in private sector job creation and investments in Missouri communities.

MDFB was one of the lead agencies in developing the DREAM Initiative. It holds all contractual agreements with partnering communities and private planning agencies. MDFB serves as the bridge between all participating parties and provides development incentives for projects identified through the DREAM Initiative.

Learn more about MDFB at www.mdfb.org.

Missouri Department of Economic Development

The Missouri Department of Economic Development (DED) administers a wide array of services designed to enhance Missouri’s economic growth in the 21st century. These services focus on workers, businesses and communities.

DED is composed of agencies that center on community, business and workforce development, as well as tourism and the arts.

DED was and continues to be one of the lead agencies in the creation and implementation of the DREAM Initiative. Its role in the DREAM Initiative is to provide project development assistance to communities. The Department also assigns staff to each community to facilitate its delivery of project financing to each community, and to strengthen long-term working relationships in these communities.

Learn more about DED at www.ded.mo.gov.

Missouri Housing Development Commission

Missouri Housing Development Commission (MHDC) is dedicated to strengthening communities and the lives of Missourians through the financing, development and preservation of affordable housing. MHDC functions as a bank, providing financing directly to developers of affordable rental properties. The Commission also provides funding for home loans to qualified, first-time buyers through a network of certified, private mortgage lenders. Mortgage financing is provided through the sale of tax-exempt notes and bonds that the Commission is authorized to issue.

The Commission provides advisory and consultative training and educational services to nonprofit housing organizations. The Commission administers the federal and Missouri Low-Income Housing Tax Credit (LIHTC) programs, federal HOME funds, the U.S. Department of Housing and Urban Development (HUD) Project-Based Section 8 rental assistance contracts, the direct MHDC funding of several housing assistance programs and the Affordable Housing Assistance Program Tax Credit. The Commission also administers the Missouri Housing Trust Fund to help prevent homelessness and provide emergency housing assistance for very low-income Missourians.

MHDC conducts the Housing Market Analysis for the participating DREAM Initiative communities and uses its existing programs in targeted areas of the communities. MHDC is the third of the three founding state partners of the DREAM Initiative.

Learn more about MHDC at www.mhdc.com.