West Midlands proposes new home theater and entertainment center

MDC board members will vote at a board meeting on Monday to execute a letter of intent between MDC, the City of Midland and Hodges Development Services to develop the project. The project will include a 60,000-square-foot home theater and entertainment center with an outdoor music and event stage; approximately 60,000 square feet of land occupied by a nationally recognized retailer; and platters for other general retailers and restaurants .NDA prevents disclosure of specific names involved in development

MDC executive director Sara Harris stressed to Reporter-Telegram that the letter of intent is not binding and the full agreement will be presented to the MDC board and city council several times before being finalized. It calls for construction on the development to begin on September 1 next year and be completed by January 1, 2027 at the latest.

“We believe this is the start of a conversation,” inviting the public to learn about the project and to voice their views and concerns.

Hodges will invest $45 million in the project, and MDC has been asked to contribute $5 million to fund roads and other infrastructure. When completed, these new roads will become city roads, Harris said.

The letter of intent also includes a 10-year city property tax abatement, falling from 100 percent in the first two years to 20 percent in the second two years. It also includes a 50 percent rebate of city sales tax incurred by movie theaters and entertainment centers and retailers, as well as general retailers and restaurants, during the first seven years they are open to the public.

“The City Council is very careful with its incentives,” Mayor-elect Lori Blong told the Reporter-Telegram. “We believe this will be a beneficial project, in terms of job creation, the long-term growth of the region, and the people of Midland Both have huge benefits.”