The Wichita Falls City Council gave its stamp of approval to $2.6 million to the economic development budget. The increase in funding will be for improvements at a business that’s been closed for several years.

The funds will be used to fix up the former Stanley Tools building which sits just behind the jail annex.

In January, the Wichita Falls Economic Development Corporation was given the property, which is in need of repair to both the inside and outside.

It will also cost nearly $12,000 each month to keep up with utilities, maintenance, taxes and insurance until the end of this fiscal year.

– Newschannel 6