(BEDFORD) – The Bedford Redevelopment Authority met on Thursday for the election of officers and financial report.
The election of officers include:
- President – Brad Bough
- Vice President – Larry Hardman
- Secretary – Angel Hawkins
The Bedford Redevelopment Authority leases Stonegate Art & Education Center to the Bedford Redevelopment Commission.
The Bedford Redevelopment Commission has a total balance of $10,127,824. Their funding is supported by Bedford’s Tax Incremental funds. The Commission had a total of $670,825.18 in expenses for 2020.
Those expenses include:
- Crowe Horwarth LLP. for consulting services – $12,207.18
- USDA Loan (Final payment for Stonegate 2037) – $255,000
- USDA Debt Reserve Fee – (Final payment 2027) – $35,500
- Plaza Drive Payments to Bank of New York – $254,000
- Debt Service for Wastewater Treatment Project – $111,868
- Old National Bank (annual fee) – $1,500
- Bank of New York (annual fee) – $750
- Total Disbursement for 2020 – $670,825.18
Payments due in 2021 to USDA for the Stonegate Arts & Education Center include two payments of $127,500 and a Debt Reserve Fee of $35,500 with a total expenditure for 2021 at $290.500.