Wichita Falls boards approve financing steps for Sykes Center redevelopment amid public concern for small businesses

Wichita Falls city and sales‑tax boards on April 14 approved a performance agreement and took initial financing steps to acquire and redevelop the Sykes Center Mall property at 3111 Midwestern Parkway.

The Wichita Falls 4B Sales Tax Corporation voted to approve a $3,500,000 performance agreement with the Wichita Falls Economic Development Corporation. The Wichita Falls Economic Development Corporation then adopted a resolution authorizing purchase of 3111 Midwestern Parkway from Sykes Center Mall Realty Holding LLC “for up to $28,000,000” and the execution of financing documents totaling “up to $19,000,000,” language read into the record during the meeting. A later reading of the same item at the meeting included a different purchase figure, $21,280,000; the transcript records both numbers. All motions reported in the meeting were approved by voice vote.

Why it matters: officials and presenters described the project as a multi‑phase redevelopment intended to repopulate retail, add a destination sports and events facility, and improve the city’s appeal to students and military personnel. Supporters said the project could recapture sales lost to out‑migration and support Midwestern State…