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City approves incentive agreement to support facade, parking and tenanting work at Bedford Oaks
Summary
Council approved a Chapter 380-style economic development program with Aberfeldy Properties to reimburse up to 25% of qualified hard costs for façade, parking and landscaping improvements at Bedford Oaks, capped at $161,000, with construction required to begin by March 2027.
Economic Development Manager Christian Smith presented a proposed economic development program agreement with Aberfeldy Properties Inc. to support improvements at Bedford Oaks Shopping Center (2101 Bedford Road). The owners committed to a minimum hard capital investment of $643,000 and the city would reimburse 25% of qualified hard expenses as work is completed, with a hard cap on incentives of $161,000. Construction must commence by March 2027 and finish no later than March 2029 with a one‑time 12‑month extension allowed.
A company representative, Sylvia Payette, said the on‑site fuel station is under lease through early 2027 and described plans to kick off work later in the year, starting with façade improvements and followed by parking and landscaping. Council discussed the decommissioning timeline for the fuel station and confirmed incentive terms would tie reimbursed tranches to completed improvements and exhibits attached to the agreement. The motion to approve the agreement passed unanimously.
