Town of Bedford Minutes for Adjourned Meeting 2026-05-02
AEP Substation Lease Concluded; Electric Fund Debt-Free
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Description
Bedford has completed its lease-purchase agreement with AEP for the paper mill substation, finalizing a multi-year financial obligation. The end of this lease marks a milestone with the Electric Fund now carrying zero debt.
Contract Details
Contract Amount
$232,000 revenue decrease (lease ended)
Vendor
AEP
Agency
Town of Bedford, VA
Contract Type
OTHER
Document Date
May 2, 2026
Contract Term
Lease completed in FY2026
Renewal Date
2026-06-30
Renewal Info
Lease agreement concluded; no renewal.
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