Editor\u2019s note: Transcript provided by CoverGov<\/a>.<\/p>\n The planned redevelopment of the Stonegate Shopping Center in Bedford is receiving a boost with incentives of up to $300,000 from the city of Bedford.<\/p>\n The incentives \u2014 a grant of $200,000 and a sales tax rebate of up to $100,000 \u2014 would require a minimum capital investment of $850,000 from the shopping center\u2019s owner, CenterPoint Commercial Cos<\/a>.<\/p>\n The Bedford City Council unanimously approved the incentives 7-0 at its meeting Dec. 9<\/a>. Council member Rob Gagliardi, as he did during the council\u2019s consideration of a rezoning and specific use permit<\/a> on the case in September, moved for approval before the council began discussion.<\/p>\n \u201cI\u2019ve been waiting for this day,\u201d Gagliardi said<\/a> during the Dec. 9 meeting. The revitalized Stonegate \u201cI believe is going to be a huge draw for a larger area.\u201d<\/p>\n CenterPoint plans to make improvements to the exterior facades and parking lot of the property at 1305 and 1313 Brown Trail, and expand part of one of the property\u2019s two buildings to create an outdoor pavilion that would complement the existing Turning Point Beer brewery and a pickleball venue.<\/p>\n The $200,000 grant incentive would be connected to the improvements to the exterior facades. The sales tax rebate calls for a five-year 50% rebate.<\/p>\n The 7,000-square-foot pavilion will add space for extra eateries and seating, enhancing Turning Point, which opened in 2018. CenterPoint has acquired the property.<\/p>\n CenterPoint\u2019s contract requires completion of work and submission of receipts to the city by Dec. 31, 2027.<\/p>\n CenterPoint had originally intended to make smaller-scale improvements to the property, but later augmented its plan after deducing there was significant demand for a better venue. Mark Cohen, CenterPoint\u2019s president, told council members in response to their questions that he\u2019s being selective with leases to ensure he puts in the right tenants.<\/p>\n \u201cThere really isn\u2019t anything like this in multiple miles and directions,\u201d he told the council.<\/p>\n Scott Nishimura is senior editor for local government accountability at the Fort Worth Report. Reach him at scott.nishimura@fortworthreport.org<\/a>.<\/p>\n To learn more about how the transcript that informed this report was created, visit covergov.com<\/a>.<\/p>\n