2019-02-26 CEDC Minutes ei@,r` OF
SOUTH LAKE
TEXAS
SOUTHLAKE COMMUNITY ENHANCEMENT AND DEVELOPMENT CORPORATION
BOARD MEETING MINUTES: February 26, 2019
LOCATION: The Marq Southlake
285 Shady Oaks Drive
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, Craig Sturtevant
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
Community Services Chris Tribble, Director of Public Works Rob Cohen, 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 January 22, 2019 Community
Enhancement and Development Corporation meeting
A motion was made to approve the minutes from the January 22, 2019 meeting as
presented.
Motion: Bledsoe
Second: Wang
Ayes: Bledsoe, DeCaro, Maisto, Mundlin, Schelling, Sturtevant and Wang
Nays: None
Abstain: None
Vote: 7-0
Motion Carried —APPROVED
3. Staff reports:
a. Financial reports
i. The Marq Southlake financial highlights
February 26, 2019 CEDC Minutes
Chief Financial Officer and Board Treasurer Jackson presented the monthly
dashboard status for the Marq and noted the following for the board:
• Overall cost recovery for The Marq is 35.23%, which is below the
target of 82% (set for year three)
• Year-to-date revenue is $227,646
• Year-to-date expenses is $646,178
ii. Champions Club membership sales report
Chief Financial Officer and Board Treasurer Jackson shared with the board
that the City has currently sold 833 memberships to Champions Club, which
is 162% of the pre-sale goal and 49% of the year one goal.
iii. Sales tax report
Chief Financial Officer and Board Treasurer Jackson let the board know that
she just recently got the sales tax numbers for December and has not had a
chance to conduct a thorough review of what caused the dip in revenue. She
informed the Board that the Corporation brought in $608,806 in revenue for the
month of December 2018, which is 7.5% below what was budgeted for the
same month. The total revenue for the year is over $1.5m ($1,512,148).
b. Economic and development activity report
i. 2018 Development Activity Report (written)
This item was provided as a packet item only, for the Board's reference. Deputy
Director of Economic Development Daniel Cortez also gave the board an
update on the business climate survey. He noted there have been a total of
101 respondents so far. He also shared that when compared to the Citizen
Satisfaction Survey that had about a 10% response rate this survey is at about
5%. He indicated there was good representation across various industries
through Southlake and that door-to-door visits were being conducted with
shopping centers that have most of their interaction with property management
companies rather than the City. Daniel indicated there has not been an
established closing date for the survey but anticipates that on or around March
19th the survey would close giving the survey approximately 5 to 6 weeks for
being live.
c. Construction management report
Director Cohen provided a brief update on the construction status of Champions
Club including several recent updated pictures of the building. He informed the
board that the project is 93% complete and that substantial completion is targeted
for March 2019. He noted that $29.3 million has been paid to the contractor thus
far.
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February 26, 2019 CEDC Minutes
Director Tribble also informed the board that the dedication event for Champions
Club will be on Tuesday, March 26th from 6:00pm to 9:00pm. This event will be for
the City Council and City Boards to attend with their families. The public grand
opening event will be held on Saturday, April 6, 2019, from 9:OOam-8:OOpm. The
public will be invited to tour the facility, learn about memberships, try out the
equipment, take a fitness class and enjoy activities planned for the day.
4. ADJOURNMENT
Board President Schelling adjourned the meeting at 6:22 p.m.
5. Tour of The Marq Southlake Champions Club
Following the meeting the board took a tour of the construction progress at the
Champions Club.
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Martin Schelling, President
Community Enhancement and Development Corporation Board
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Suzan - Maisto, ecretary
Com r unity Enhance gent and Development Corporation Board
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