Page 12 - City of Bedford FY21 Budget

sales estimated to top $4M/year. The site is the last remaining parcel to be redeveloped at
the intersection of Central Drive and Hwy 183, one of the City’s busiest highway corridors.

Bedford’s industrial sites continue to expand, with the most recent being the remodel of
3737 Airport Freeway in the Bedford Forum area to accommodate a new Hertz Car Sales
facility. A Bedford biotech company, which continually receives million-dollar grants to
advance its therapeutic gene and delivery platform, is expanding. The company is
negotiating on a vacant warehouse distribution center in the Bedford Forum area.

The medical and healthcare sector remains a key factor in Bedford’s economy. Bedford is
a major medical and healthcare hub, employing thousands. Texas Health HEB Hospital
alone employs over 1,500 employees and sees 100,000 patients a year. The pace of
healthcare development in Bedford has not slowed, with several new healthcare and
dentistry businesses opening in past months. Carter BloodCare, another large Bedford
employer, continues construction on their fleet maintenance facility, and a new medical
office development is being planned for development near Texas Health HEB Hospital.

Commercial and residential real estate continues to be in high demand. Vacancy rates for
retail space have consistently been at all-time lows, while the demand for residential
property remains high. New residential subdivisions are being proposed on lots of one to
two acres in older, established sections of the City.

Bedford’s mature shopping centers are being revitalized as the City and the shopping center
owners work together to address improvements to lighting, parking lots, signs, and façade
updates. The Retail Center Revitalization (RCR) program includes rebates of a percentage
of the costs involved with building renovation and new modern signage. The shopping
center at Brown Trail and Bedford Road is an example of this program.

With room to grow, and opportunities available, Bedford proudly offers an efficient “one
stop shop” to developers that desire to discuss their perfect site in Bedford.

 City Council Goals

On May 8, 2018, the Bedford City Council adopted a Strategic Plan to establish their goals
and priorities. This was the result of a collaborative process with the City Council and staff
over the course of multiple months that worked to define the Council’s vision for the City
and strategic focus areas to accomplish that vision. The mission was unchanged as part of
this process.

Vision: Bedford is a vibrant, transformational community. We achieve this through
our pursuit of economic vitality, fostering sustainable neighborhoods and
commercial areas and providing excellent customer service to our residents.

Mission: Be responsive to the needs of the community
Demonstrate excellent customer service in an efficient manner
Foster economic growth

ix