Minutes 04-23-2015 - Laserfiche WebLink

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pj Hillsborough Vision 2030 Plan Margaret Hauth reviewed the updates below: • Efforts have continued on work begun in 2013, and the town has adopted Vision 2030 to replace the Vision 2010 policy document. The plan is available at http://www.ci.hillsborough.nc.us/sites/default/files/Vision2030.pdf The Town received comments from Orange County Planning staff and considered them during development. The plan was adopted on March 9, 2015. b) Town Development Updates • UNC Hospital —The hospital is proceeding with the plan to be open in July. Construction has begun on the water tank needed to have sufficient pressure in the vicinity as development continues. Durham Technical Community College —The town is not aware of any activity related to the Community College. • Historic Mills —The town designated both the Bellevue and Eno Cotton Mills (aka Hillsborough Business Center) as local historic landmarks at the end of 2014 to allow the owners the local landmark tax reduction. There is an active contract to purchase the Bellevue Mill and implement its conversion to apartments with the state mill tax credit still available to this site. The Eno Cotton Mill continues its efforts to renovate its spaces and make them available for a wider variety of uses. • Former Colonial Inn —The town has contracted with the Development Finance Initiative (DFI) through the UNC School of Government for technical assistance and advice regarding tools available to incentivize or encourage the renovation of this property. The report is expected back in mid-March. • Highway 70 Corridor Update and Opportunities- The town submitted a grant request, supported by the County Economic Development staff, to seek technical assistance from an economic development consulting firm to help the town better understand its options to participate in and incentivize the redevelopment of the Cornelius Street corridor. As the town does not have specialized economic development staff, the hope was to develop an understanding of key data or programs that can be collected, monitored or implemented to assist with limited oversight. A number of key properties in the corridor are available for sale. Unfortunately the town was not selected to receive the grant. Commissioner Dorosin asked for clarification about the update regarding the Colonial Inn. Margaret Hauth reiterated that the report from the DFI had yet to be received. She said the report will be received at the May meeting. Commissioner Dorosin asked if the report is expected to have a set of alternatives for the Town to consider. Margaret Hauth said yes. Mayor Stevens said the report will be a financial package. He said the owner has been cooperative in allowing access to the building, which has been helpful. Eric Hallman said the results will probably show that the ultimate value of the Inn will be less than the cost to renovate. He said funding would likely be part public and part private. He