BEDFORD – With the meeting of the Bedford Redevelopment Commission yesterday afternoon, the decision to pay off the Stonegate located on the Bedford Square is finalized. After progressing through the proper board approvals, the last step to paying off the bond is completed.
September 30, the city will pay $2,830,039.05, the cost of pay-off with accrued interest anticipated for that time.
On October 20, the final payment of $2,835,052.06 will be submitted.
October 2023 will see the city free of payments for the Stonegate. Paying off the building before the original projected date of 2037 will save the city $700,000, which can be put toward other important city projects.
