For the past year, Downtown Proud has been in negotiations with the city of Wichita Falls to take over the market.
Officials say those negotiations have wrapped up, and the next step in the process is to bring the agreement before city council for their approval.
Up until this point, farmers handled advertising for the market.
But Downtown Proud representatives say they want more publicity and advertising for the market, and they hope to make it a downtown destination people frequent.
Cynthia Laney, who's with Downtown Wichita Falls Development, says, "If we as a non-profit and as a downtown organization can do that advertising, that promotion, that marketing of the market to let more people know what's going on down there, then we think it's a win-win for everybody."
The current lease states Downtown Proud will lease the farmer's market from the city for $1 per year.
Downtown Proud and the city of Wichita Falls would split maintenance and up keep costs.
The issue goes before city council Tuesday.