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xecutiVe <br />Slarr►rslary <br />provide further analysis of the conditions identified in the U <br />was designed to P the Town of Hillsborough in 2007. The explicit <br />This project re ared by potential opportunities and constraints <br />70 /Cornelius Street Corridor Plan Prepare <br />goal of this work is to develop e oettd understanding of the <br />to future development along ortunities identified in <br />into consideration the issues and ooif the demographic and <br />Using a variety of methods, and taking th analysis <br />the 2007 report , the project team has conducted an in-depth all <br />economic trends affecting the Cornelius Street Corridor. An assessment of health care services m <br />otential development to Hillsborough's existing health <br />Hillsborough, and discussion of two different service deliver} models, attempts to address and <br />identified community need while relating p <br />Finally, the report outlines the ar'ea's retail development potential, <br />cafe service industry. acts of retail development. <br />potential employment and sales tax imp <br />hic and economic trends, existing land <br />Existing Conditions Assessment Analysis IS <br />This section provides detailed information onadalftl gl state of tile local economy. <br />dated demographic data purchased fro <br />Claritas, Inc., and <br />uses, current real estate market conditions, <br />public sources such as the > mplOymenI Seen, Commission of North Carolina <br />performed using 2000 Census data, up <br />data from other p and Management. <br />and tine Office of State Budge' geographic <br />h For <br />For data analysis purposes, the study area was defined as tine 2-mile radius from the r <br />70/Cornelius ea Street Corridor Plan. In some <br />for five- and ten -mile races areas were also analyzed. This <br />center of the CorneuStreet corridor, This area includes most of the town of Hills y7e <br />the sake of comparison, <br />methodology corresponds with the one usedevelre US 'JO <br />cases, data was only available at the county <br />Demographic and Economic Trends <br />elation of the two -mile study <br />When compared to the five -mile and ten -mile radius areas, the pop <br />area exhibits the following qualities: <br />• An older population — A growing Pr °Portion of adults age 65 and older. <br />• Lower median household income — A declining median household income that's $8,000- <br />29 percent of residents identify as African- Amefican, compared to <br />16,000 less than in the wider areas. <br />More racial diversity — P respectively- <br />ercent of residents age 25 and over have a <br />19 and 14 percent in the five- and ten -mile redo, <br />Lower levels of educational le attainment — 53 P <br />high school degree <br />