Claire Kowalick, Wichita Falls Times Record News
The largest project the Wichita Falls City Council approved Tuesday, was an agreement between the city, 4A Economic Development Corporation, and O’Reilly Hospitality.
Tim O’Reilly, CEO of the hotel-development company, said the Delta by Marriott full-service hotel plus the conference center will be a combined $60-million project.
The hotel will be owned and operated by O’Reilly and the conference center is expected to be funded by the 4B Sales Tax Corporation.
City Manager Darron Leiker iterated that there will be no property-tax dollars, or general fund dollars going toward this hotel/conference center project. The funding will come from sales-tax revenue that is approved for use by the 4B Board and council.
Something that does come out of the general fund, Leiker said, is the annual subsidy to keep the Multi-Purpose Events Center going. Every year, the city uses a portion of general-fund dollars to keep the MPEC afloat and the amount is only growing each year.