2018-07-24 CEDC MinutesSOUTH LAKE
TEXAS
SOUTHLAKE COMMUNITY ENHANCEMENT AND DEVELOPMENT CORPORATION
BOARD MEETING MINUTES: July 24, 2018
LOCATION: Southlake Town Hall — Room 4A
1400 Main Street
Southlake, Texas 76092
TIME: 6:00 p.m.
COMMUNITY ENHANCEMENT AND DEVELOPMENT CORPORATION BOARD
MEMBERS PRESENT: Board President Martin Schelling, Board Vice -President
Brandon Bledsoe, Board Secretary Suzanne Maisto, Tom DeCaro, Bob Mundlin, Frank
Pittman, and Jeff Wang.
COMMUNITY ENHANCEMENT AND DEVELOPMENT CORPORATION BOARD
MEMBERS ABSENT: None
STAFF PRESENT: Assistant City Manager Alison Ortowski, Assistant City Manager
Ben Thatcher, Chief Financial Officer & Board Treasurer Sharen Jackson, Director of
Public Works Rob Cohen, Director of Community Services Chris Tribble, Deputy
Director of Community Services Candice Edmondson, Deputy Director of Community
Services Kate Meacham, and Deputy Director of Economic Development Daniel Cortez.
1. Call to order
Board President Martin Schelling called the meeting to order at 6:00 p.m.
2. Consider approving the minutes from the June 26, 2018 Community
Enhancement and Development Corporation meeting
A motion was made to approve the minutes from the June 26, 2018 meeting as
presented.
Motion: Bledsoe
Second: Pittman
Ayes: Bledsoe, DeCaro, Maisto, Mundlin, Pittman, Schelling, & Wang
Nays: None
Abstain: None
Vote: 7-0
Motion Carried —APPROVED
3. Consider approval of amended Fiscal Year 2018 Southlake Community
Enhancement and Development Corporation Operating Budget and adoption
of Fiscal Year 2019 Southlake Community Enhancement and Development
Corporation Operating Budget and Multi -Year Capital Improvement Plan
July 24, 2018 CEDC Minutes
Board President Schelling made a few brief remarks regarding the board's
governance role with the budget and specifically clarified the board's stewardship of
the budget review versus the fee schedule review. Board member Pittman made a
comment that after speaking with staff he understands this distinction, but would still
like to share his point of view with the board when the Marq fees are discussed.
Board President Schelling agreed that would be acceptable and then turned the time
over to Chief Financial Officer and Board Treasurer Sharen Jackson to make the
agenda item presentation.
CFO Jackson let the board know that the amended revenue for the FY 2018 budget
is $6,114,000 and the proposed FY 2019 budget is $8,485,271. The 38.8% increase
in the budget relates to the opening of Champions Club. She also informed the
board that the anticipated sales tax collections for the corporation in FY 2019 are
projected to be $5,864,000. She also stated that the two economic development
expenditures that were presented to the board last month are still being proposed for
FY2019. One is for the construction of SH 114 improvements, which will be a
$1 million transfer from the CEDC fund to the City's CIP for this project. The second
proposed expense is $20,000 for the www.selectsouthlake.com website. This new
site will assist brokers looking for site options in Southlake.
Deputy Director of Community Services Kate Meacham presented the budget
breakdown for the Marq, which is:
• Personnel - $2,126,435
• Operations - $1,897,167
• Capital - $1,651,317
Deputy Director Meacham also went over the following new budget requests for the
Marq:
• Legends Hall Furniture Items - $15,000
• Legends Hall AN Enhancements - $65,000
• Fiber Redundancy - $118,000
• Security Guard Services - $129,000
• Facility Maintenance Work Order System - $8,500
The Board didn't have any questions on this item. Board member Pittman distributed
an analysis he made to illustrate the point that in his opinion more consideration
should be made to decreasing the Champions Club membership fees for seniors. He
informed the board he is going to email this analysis to the City Council and may
even consider attending the City Council meeting and speak as a resident and not
as a board member.
A motion was made to approve amending the Fiscal Year 2018 Southlake
Community Enhancement and Development Corporation Operating Budget and
adopting the Fiscal Year 2019 Southlake Community Enhancement and
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July 24, 2018 CEDC Minutes
Development Corporation Operating Budget and Multi -Year Capital Improvement
Plan as presented.
Motion: Bledsoe
Second: Mundlin
Ayes: Bledsoe, DeCaro, Maisto, Mundlin, Pittman, Schelling, & Wang
Nays: None
Abstain: None
Vote: 7-0
Motion Carried —APPROVED
4. Staff reports:
a. Financial reports
i. The Marq Southlake financial highlights
Chief Financial Officer and Board Treasurer Jackson presented the monthly
dashboard status for the Marq and noted the following for the board:
• Cost recovery for Legends Hall is at 62%
• Budgeted revenue for Legends Hall is $409,000 with YTD revenue of
$381,440
ii. Sales tax report
Chief Financial Officer and Board Treasurer Jackson asked the board if there
were any questions regarding the sales tax report that was in the packet. She
informed the Board that the Corporation brought in $514,687 in revenue for
the month of May 2018. The total revenue for the year is under $4m
($3,823,972).
b. Economic and development activity report
i. Business Engagement Program report
Deputy Director of Economic Development Daniel Cortez provided the board
with an update to the Business Engagement Program with a report containing
quarterly figures and an overview of the "Business Buddies" interviews
conducted in Q3 and a summary of the Council visit with Methodist Southlake
Hospital.
c. Construction management report
Public Works Director Cohen provided an update on the project expenses as well
as the burn rate for the budget. He informed the board that the project is 62%
complete and that substantial completion is targeted for October with a grand
opening of the facility in the latter part of December. He noted that this is a
change from the last board meeting with the opening being delayed two weeks.
He also shared that the contingency budget is still hovering around $1 m.
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& ADJOURNMENT
Meeting adjourned at 7:34 p.m.
Martin Schelling, President
Community Enhancement and Development Corporation Board
Suzan Maisto, Sec ry
Com unity Enhancemen nd Development Corporation Board
July 24, 2018 CEDC Minutes
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