According to the startribune.com, Hibbing, Minnesota, is honoring its "favorite son":
"The street where music icon Bob Dylan grew up is being given the name "Dylan Drive'' in his honor. It's the first time the city of Hibbing is doing something permanent to honor him. The city had issued a proclamation on May 24, 2001, Dylan's 60th birthday, but that was just a one-day event. The street sign will be permanent. The sign is honorary only, meaning Seventh Avenue will remain the official name of the street, and residents won't have to change their addresses.
Seems like they could do a little better than an honorary sign. I would have named his street "Positively Seventh Avenue" had they asked me.