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2021-01-26 CEDC MeetingCITY OF SOUTHLAKE TEXAS COMMUNITY ENHANCEMENT & DEVELOPMENT CORPORATION MEETING TUESDAY, JANUARY 26, 2021 LOCATION: VIA VIRTUAL ACCESS NOTICE IS HEREBY GIVEN in accordance with order of the Office of the Governor issued March 16, 2020, the Community Enhancement and Development Corporation Board of Directors will conduct this meeting virtually in order to advance the public health goal of limiting face-to-face meetings (also called "social distancing") to slow the spread of the Coronavirus (COVID-19). This Notice and Meeting Agenda, are posted on the City's website and can be found at https://www.cityofsouthiake.com/A.gendaCenter The public will be permitted to offer public comments as provided by the agenda and as permitted by the presiding officer during the meeting via http://bit.ly/0126210EDC hosted through Webex. A recording of this meeting will be made and will be available to the public in accordance with the Open Meetings Act. TIME: 6:00 p.m. AGENDA: 1. Call to order 2. Consider approving the minutes from the November 12, 2020, Community Enhancement and Development Corporation meeting 3. Board member introductions 4. Economic Development: a. Consider a recommendation to the City Council on adoption of the Southlake 2035: Economic Development Master Plan Addendum 5. The Marq a. Consider approval of funding for the City's contract with Tactical Systems Network for security guards at the Marq Southlake in an amount not to exceed $162,000. 6. Staff reports: a. Financial reports i. The Marq Southlake financial highlights and membership sales report ii. Sales tax report iii. Briefing on recent public investment agreements approved by the City Council b. Economic and development activity report i. 2021 State of the Local Economy ii. Local Economic Update — FY 2021 Q1 Economic Activity Report iii. Southlake Business Relief Grant Update 7. Adjourn A quorum of the City Council may or may not be present at this meeting. CERTIFICATE I hereby certify that the above agenda was posted on the official bulletin boards at Town Hall, 1400 Main Street, Southlake, Texas on Friday, January 22, 2021, by 6:00 p.m., pursuant to Chapter 551 of the Texts%Gdtergpent Code. a • S r' Amy Sh ley, TR ti City Secretary ••••"'• If you plan to attend this meeting and have a disability that requires special needs, please advise the City Secretary 48 hours in advance at 817-748-8016, and reasonable accommodations will be made to assist you. is W— SOUTH LAKE TEXAS SOUTHLAKE COMMUNITY ENHANCEMENT AND DEVELOPMENT CORPORATION BOARD MEETING MINUTES: January 26, 2021 LOCATION: Meeting held Virtually TIME: 6:00 p.m. COMMUNITY ENHANCEMENT AND DEVELOPMENT CORPORATION BOARD MEMBERS PRESENT: Board President Martin Schelling, Board Vice President Tom DeCaro, Board Secretary Craig Sturtevant, Jennifer Kolb, Robert Mundlin, Jeff Wang and Mike Pazera. COMMUNITY ENHANCEMENT AND DEVELOPMENT CORPORATION BOARD MEMBERS ABSENT: None STAFF PRESENT: Assistant City Manager Alison Ortowski, Chief Financial Officer & Board Treasurer Sharen Jackson, Police Chief James Brandon, Director of Community Services Chris Tribble, Deputy Director of Community Services David Miller and Director of Economic Development & Tourism Daniel Cortez. 1. Call to order Board President Martin Schelling called the meeting to order at 6:02 p.m. 2. Consider approving the minutes from the November 12, 2020 Community Enhancement and Development Corporation meeting A motion was made to approve the minutes from the November 12, 2020 meeting. Motion: DeCaro Second: Sturtevant Ayes: Schelling, DeCaro, Kolb, Sturtevant, Mundlin, Wang, Pazera Nays: None Abstain: None Vote: 7-0 Motion Carried — APPROVED 3. Board member introductions The Board welcomed its newest member, Mike Pazera, and he gave a brief introduction about his background and community involvement. it V.--. January 26, 2021 CEDC Minutes 6. Staff Reports a. Financial reports i. The Marq Southlake financial highlights and membership sales report Chief Financial Officer Sharen Jackson provided information about Champions Club membership trends and revenue. She indicated that the City is trending at 76% cost recovery versus the target which is 53% for this time of year for The Marq. She noted that The Marq is continuing to trend lower in revenue versus the same time frame in 2019, due to the ongoing pandemic, but the City is meeting its projected budget. She also stated that while memberships are lower this year by approximately 25%, they are maintaining steady from month- to-month at around 1,900 memberships since August. ii. Sales Tax Report Chief Financial Officer Sharen Jackson presented the Board with the most recent sales tax data. She informed the board that the City has collected about 8% less this fiscal year than what was collected in FY 2020 but noted that we are still above what was projected in the FY 2021 budget. She also noted that the November sales tax figures includes an adjustment by the State Comptroller that would place the City's sales tax revenue only 1.5% below what was collected the year prior, rather than the 8% that is being shown. iii. Briefing on recent public investment agreements approved by the City Council Director of Economic Development & Tourism Daniel Cortez stated this is an annual standing item and that there are no updates to report regarding public investments. b. Economic and development activity report i. 2021 State of the Local Economy Director of Economic Development & Tourism Daniel Cortez provided the Board a presentation on the state of the economy in Southlake. As part of the presentation, he made the following observations: Unemployment is at 5% which is an increase from prior years due to the pandemic, but month-to-month unemployment is improving. The amount of residential activity has decreased in 2020 while the average sales price of homes has increased to $962,285 which represents an almost $100,000 increase from the year prior. The City has had a healthy 2020 in terms of new business openings with approximately 68 new business openings. The City also has just over 2,600 business, many that are online based.