DREAM initiative gets grant money, tax credits

Two projects for economic development in central Cape Girardeau received state approval Wednesday.

Gov. Matt Blunt announced a $400,000 grant to extend Fountain Street from Morgan Oak Street to William Street along with $172,270 in tax credits for the Southeast Missouri Children's Museum.

The grant and tax credits are two projects identified as part of the DREAM, or Downtown Revitalization and Economic Development for Missouri, initiative.

The tax credits will help the Discovery Playhouse renovate a 6,500-square-foot historic building at 101 William St. The credits are available under the Neighborhood Assistance Program.The grant, a Community Development Block Grant, will help pay for extending Fountain Street as part of efforts to generate development adjacent to the new River Campus of Southeast Missouri State University.

For more information, check back at www.semissourian.com or read Thursday's Southeast Missourian.