Page 273 - Bedford-FY25-26 Budget

FY 2024-2025 Highlights
Maintained the City's Bond Rating of AA+.
Finalized the sale of the Campus West Property. This property has been tax-exempt for more than 30 years. This sale adds
the property back to the tax rolls and will bring new commercial and residential development to that area.
The City's 4thFest grew to approximately 10,000 attendees. This is the City's second-largest event, preceded by Beats and
Eats.
Partnered with Midway Development Group, LLC on the Bedford Commons project.

Economic Development
Maintained close collaboration with developers and purchasers to negotiate sales terms for a proposed mixed-use
development on the City-owned 18.5-acre tract at SH-183 and FM-157, also known as “Campus West.” The visionary project
will encompass townhomes and approximately 60,000+ square feet of grocery, retail, and restaurant space.
Continued to drive forward the development efforts associated with Bedford Commons, situated south of Bedford Road
and north of L. Don Dodson Drive. This exciting project will feature townhomes, multiple mixed-use restaurant/retail sites,
an inviting amenity lake, and exible lawn space.
Engaged a private engineering rm to redesign Parkwood Drive, a critical component serving the Bedford
Commons development.
Facilitated ongoing coordination with an enlisted private engineering rm to conduct preliminary engineering
work on the site, including the creation of a new concept plan and addressing drainage-related aspects.
Secured City Council approval for the construction contract of Parkwood Drive between Bedford Road and L. Don
Dodson Drive, with construction now substantially complete.
Continued collaborative efforts with the master developer to establish a mutually bene cial management
development agreement.

Goals

Economic Vitality
Continue to encourage reinvestment into the community by supporting private property owners during the
redevelopment process.
Continue to focus on growing the commercial base within the City.
Market sites for appropriate uses as supported by the adopted Comprehensive Plan.
Restructure the façade grant program to ensure maximum bene t for the community.
Continue to host a Bedford Signature Event.
Organizational Excellence
Lead the organization in achieving and implementing Council's prorities.
Ensure scal responsibility through budget monitoring and timely reporting.
Encourage employees to participate in professional organizations for professional growth in serving the citizens of
Bedford.
Works towards achieving Texas Transparency Stars through the Texas Comptroller.
Communicate & Engage with Citizens
Continue with a Citizen's Academy.

City of Bedford, TX | Proposed Budget FY 2025-2026 Page 273