Agenda - 05-18-2010 - 8b - Laserfiche WebLink

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2) Attract and retain retail dollars from within and outside the county. Orange County and its municipalities are engaged in an ongoing effort to balance their tax bases, as the majority of th currently e tax burden is cuently borne by homeowners. Increasi g retail and n commercial development is imperative in order to achieve this balance, much of which results from the leakage of consumer dollars to neighboring counties. Development of the tax - exempt UNC hospital in Hillsborough's Waterstone Economic Development District, on land previously zoned for commercial development, represents forgone future sales and business taxes. Commercial or office development on Cornelius Street can capture some of this displaced commercial use. Further, Cornelius Street serves and Dnrhann11Shategicte between points west (e.g. Mebane and Ala a s ill tile tot) and along the longer c 70 commercial development can fill existing g p corridor, and by doing so, prevent further leakage and attract more spending from commuters passing through the town. 3) Create jobs that provide decent wages, conditions and opportunities for workers from Hillsborough. In a town and county where quality of life issues played allo significant jobs role in economic development goals to date, the issue of job quality is cri are created equal: some jobs and industries, despite requiring relatively low- levels of education, can provide opportunities for advancement, while others offer d quality jobs for growth. Given the challenges of public and private transportation, good quality l that are accessible to residents of the neighborhood's adjoining Cornelius Street would be a positive addition to the corridor and help combat the potential negative effects of development (e.g. exclusion, gentrification). 4) f;nhance the physical appearance, environment, and current uses of the corridor. Cornelius Street serves as a gateway to Hillsborough. It is an urban toad, but its current conditions give it a more rural feeling. Improved lighting, signage and pedestrian pathways al improvements that could make the corridor look and feel are part of a parcel of physic more incorporated with the rest of the town, and improve safety for pedestrians. New and redeveloped sites should be of a scale that is fitting for the surrounding neighborhoods. Achieving a mix of uses, either throughout the corridor or within individual buildings, can further enhance the image and feeling of the corridor by bringing more activity to the area and spreading the activity over a greater part of the day. Project Area and Study Area Definitions Hillsborough's Cornelius Street commercial corridor stretches approxitmately 1.2 miles, from Lakeshore Drive to the intersection of US 70 with NC -86. US 70 is a major east -to -west route that connects Durham with Mebane and other cities to the west, carrying over 8,400 vehicles per day as 74