City of Bedford Agenda Packet 2026-05-26
Economic Development Incentive Approved for Bedford Oaks Center
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Description
The City of Bedford awarded an economic development agreement to Aberfeldy Properties Inc. for up to $161,000 to support major improvements at Bedford Oaks Shopping Center, with construction due by March 2029.
Contract Details
Contract Amount
Not to exceed $161,000 (25% of qualified improvements, up to $643,000 in hard costs)
Vendor
ABERFELDY PROPERTIES INC
Agency
City of Bedford, TX
Contract Type
OTHER
Document Date
May 26, 2026
Contract Term
Construction must start by March 2027 and complete by March 2029; one 12-month extension option
Renewal Date
2030-03-01
Renewal Info
One-time option to extend completion deadline for 12 additional months if necessary.
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