City of Bedford Council Minutes 2026-05-12
Chapter 380 Economic Agreement Approved for Shopping Center
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Description
Council approved a Chapter 380 economic development grant agreement with Aberfeldy Properties Inc. for improvements to Bedford Oaks Shopping Center, with a City incentive up to $161,000 for at least $643,000 in investment.
Contract Details
Contract Amount
Incentive not to exceed $161,000; minimum $643,000 investment by company
Vendor
ABERFELDY PROPERTIES INC
Agency
City of Bedford, TX
Contract Type
OTHER
Document Date
May 12, 2026
Contract Term
Construction must commence by March 2027; completion by March 2029; one-year extension option
Renewal Date
2029-03-31
Renewal Info
One-time 12-month extension option for project completion if necessary; agreement completion expected by March 2029 unless extended.
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