Agenda - 02-26-2008- - Laserfiche WebLink

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In recent years, a growing number of developers have brought forward development proposals for undeveloped and underdeveloped parcels in and around Hillsborough, the county seat of Orange County. To date, the historically African-American community of Fairview has been largely overlooked. For the past year, Orange County and the Town of Hillsborough have led a community-based effort to plan for the redevelopment of the Cornelius Street/Highway 70 Corridor, adjacent to Fairview, "to encourage new business enterprises and the expansion of current businesses that will sustain the local economy and be complimentary to the adjoingin residential areas." We are proposing to develop a retail and service business incubator on one of the vacant commercial parcels along the corridor. The facility would offer shared space and services to start-up businesses, and would also be marketed to existing small businesses that are currently located in a 40-year old commercial area slated for redevelopment and will need to relocate. The project would create jobs and entrepreneurship opportunities for area residents, would permit current businesses to expand within the community, and would redevelop this significant corridor near downtown Hillsborough. As part of the planning, the community is considering creating a community development corporation which would create further opportunities for community ownership and control.