2.0. HRSR 03-10-1998 - Laserfiche WebLink

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terns which resemble a suburb more than a small town—an issue that must be recognized in a plan for Monticello's downtown. 0 The draw area for Monticello was defined as the communities of Monticello, Market Conditions Monticello Township, Big Lake, Big Lake Township, Orrock Township, Becker, Becker Township, Clearwater, Clearwater Township and Silver Creek Township. This draw area was established through an analysis of traffic flow patterns, community interviews with local business owners and a survey of downtown businesses. Population, households and employment in the draw area all experienced substantial growth in the 1980s and 1990s. The draw area had an estimated 30,000 persons in 1995 and nearly 10,000 households. Monticello alone had almost 6,000 persons and 2,200 households. Growth is forecasted to remain strong through the remainder of the 1990s with overall growth rates between 35.0 and 40.0 percent. A forecast for Monticello's growth performed as a part of this study shows that 1,760 persons and 720 households could be added during the 1990s. The remainder of the draw area is forecast to add 7,650 persons and 2,810 households during the same period. Growth is expected to slow during the 2000s, but Monticello is still expected to add 1,000 persons and 500 households while the remainder of the draw area is expected to add 4,000 persons and 2,000 households. During the next five years, Monticello and the remainder of the draw area will experience the greatest growth from the older adult age cohort(persons age 45 to 64). This strong growth is primarily the result of the aging baby boom gen- . 4110 eration, the oldest of which have now moved into the older adult age group. This cohort is expected to increase more than 25.0 percent in the next five year period, resulting in roughly 7,700 persons in this category in the draw area by 2001. The implication for Monticello is that the aging of children will afford adults more time to pursue leisure activities (entertainment, eating out, travel), thereby spurring demand for additional retail in Monticello. Downtown Monticello has experienced a considerable shift in focus during the past five to ten years, leaving the downtown retail core greatly diminished in intensity. Downtown still maintains a presence as a retail concentration, but its importance has been reduced in the short-term as retail concepts have changed. Downtown Monticello is still the financial and business hub of the community. New and long-established businesses continue to remain strong in downtown, but believe that creating a new downtown dynamic will strengthen their ability • * ' i 4, , ' r - .- ., -Ire '4 ''v r may! ^�`i�+J:Y [." µ ,•.1 cr-+ Broadway—Monticello's historic downtown—has diminished in intensity of activity since new retail development has 41) occurred near Interstate 94. A New Bridge ' Revltalfring Monticello's Downtown and Rhrcrlront - Page 1:9