Page 16 - Town of Bedford FY 2018-2019 Budget.pdf

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Virginia General Assembly enacted a moratorium on annexation for independent cities. A citizen-driven
effort to merge the City and County failed in 1994. The City of Bedford and Bedford County entered into
a revenue sharing agreement in 1995. Under the terms of that agreement, the County contributed one
half of tax revenues received from certain areas contiguous to the City limits in exchange for extension
of City-operated water, sewer, and electric services.

The Great Recession of 2007-2008 and its subsequent impact upon revenues nationwide led the City
Council and Bedford County Board of Supervisors to enter into formal discussions about the possibility
of the City reverting to Town status. In September 2011, both jurisdictions approved a Voluntary
Settlement of Transition to Town Status and Other Related Issues between the City of Bedford and the
County of Bedford. Highlights of the Voluntary Settlement Agreement include the following outcomes:

¾ Immediate incorporation of certain areas adjacent to the previous City limits into the
boundary of the Town of Bedford (referred to as Phase I);
¾ Merger of the water and sewer systems of the City of Bedford with the Bedford County
Public Service Authority to create Bedford Regional Water Authority;
¾ Discontinuance of services and functions previously overseen by the City or jointly
administered that are offered and/or overseen by Bedford County (constitutional offices
and recreation, for example);
¾ Future incorporation of areas adjacent to Town corporate limits within ten years
(referred to as Phase II); and
¾ Provisions for the future incorporation of further areas into the Town corporate limits
based on certain criteria.

The reversion petition was ultimately approved by a specially appointed three judge panel in December
2012.

Effective July 1, 2013, Bedford became the third Independent City (after South Boston and Clifton Forge)
to officially revert to Town status. The Town continues to serve as the county seat of Bedford and
currently covers 8.75 square miles.

DEMOGRAPHICS AND SERVICES

Bedford, a town in Bedford County, Virginia has a population estimate of 6,615 as represented in the
United States Census Bureau (V2016).

Housing
Housing
The number of reported households is 2 740 and the number of persons per household is 2 31 The
The number of reported households is 2,740 and the number of persons per household is 2.31. The
owner-occupied housing unit rate is 48.50% and the median value of owner-occupied housing units is
$145,500. The median gross rent is reported to be $670.00, the median monthly owner’s cost with a
mortgage is $1,145.00 and without a mortgage is $440.00.

Economy
Economy
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In the civilian labor force, the total percent of population age 16 years and up is 52.40%. In the civilian
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labor force, the female percent of population age 16 years and up is 49.50%. The mean travel time to
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