Midland Development Corp. Approves Recreation Center Proposal

If — and when — the city council approves the letter, “we can negotiate a final agreement for however long it takes — 30 to 60 days or more,” said board chairman Stephen Lowery. He called the vote the green light to “seriously” move forward with the project.

While the letter of intent is non-binding, Lowery said its purpose was to outline the project “so that we don’t have to come back and renegotiate. I’m fine with that,” he said.

MDC executive director Sara Harris noted that the parameters of the proposal had been verbally approved by all parties.

The project will include a 60,000-square-foot home theater and entertainment center, with an outdoor music and event stage; a 60,000-square-foot lot to be occupied by a nationally recognized retailer; and platters for other general retailers and restaurants. Nondisclosure agreements prevent disclosure of specific names involved in development. The agreement between Hodges, MDC, and the City of Midland calls for construction to begin on September 1, 2023, with completion no later than January 1, 2027.

There will be “a lot of paperwork to read” in the coming weeks, with the letter of intent being fully approved and negotiations on a definitive agreement beginning, Lowery said.