UPDATE: Wichita Falls City Council passed the resolution.

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The Wichita Falls City Council will consider amending their budget on Tuesday in order to help fund improvements on the old Stanley Tools building on Production Boulevard.

These possible improvements could interest prospective buyers, which would create more jobs for the community.

The Wichita Falls Economic Development Corporation has high hopes for who is going to fill the vacant building.

“We don’t have any specifics yet, but we are pursuing a strategic plan targeted toward aerospace manufacturing,” Henry Florsheim, Wichita Falls Chamber of Commerce, said. “But at the same time if an employer and some other targeted industry comes to us, it could be some other type of manufacturing. It could be transportation and logistics, or assembly we’re just really looking for the right type of jobs.”

The building was gifted to the Economic Development Corporation in January, after sitting vacant for nearly 14 years.

The work will cost around $2.6 million.

“The building basically needs some new infrastructure. It needs a new roof. It needs to be cleaned up for sure,” Florsheim said.

The Economic Development Corporation hired a consultant to analyze future economic development. He will focus his attention on the aerospace manufacturing industry for the building.

The additional city budget cost would also cover the monthly maintenance and utility costs for the building until it is sold, which is estimated at around $11,000 per month.