2021-05-25 CEDC Minutes ' t
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TEXAS
SOUTHLAKE COMMUNITY ENHANCEMENT AND DEVELOPMENT CORPORATION
BOARD MEETING MINUTES: May 25, 2021
LOCATION: The Marq Southlake
Legends Hall — Boardroom
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 Tom
DeCaro, Board Secretary Craig Sturtevant, Robert Mundlin, Jennifer Kolb, Jeff Wang and
Mike Pazera.
COMMUNITY ENHANCEMENT AND DEVELOPMENT CORPORATION BOARD
MEMBERS ABSENT: None
STAFF PRESENT: Chief Financial Officer & Board Treasurer Sharen Jackson, 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 6:00 p.m.
2. Board Introductions
Board Members Mundlin, Kolb and Pazera provided brief introductions of themselves.
3. Consider approving the minutes from the March 23, 2021 Community
Enhancement and Development Corporation meeting
A motion was made to approve the minutes from the March 23, 2021 meeting with
grammatical corrections being made to page three on the business relief grant item
as noted.
Motion: DeCaro
Second: Sturtevant
Ayes: Schelling, DeCaro, Kolb, Sturtevant, Wang, Pazera
Nays: None
Abstain: Mundlin
May 25, 2021 CEDC Minutes
Vote: 6-0-1
Motion Carried — APPROVED
4. Economic Development
a. Review Demo of the Select Southlake website
Director of Economic Development & Tourism Daniel Cortez presented an
overview of how the new Select Southlake website is organized. He noted key
features and topics that would be of interest to prospective businesses, existing
businesses and residents such as a new business directory, site selection
software, and data resources. The Board was also provided with a brief video
showcasing Southlake and its attractive features.
No action was required by the Board, but direction was given to slow the speed of
the video that was shown so that more time is allowed to view the text throughout
the video.
5. 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 informed the Board that the City is
trending at 69 to 70 percent cost recovery for The Marq where the City's target
for the year was at 53 percent, exceeding the established target. Director
Jackson noted that the City anticipates exceeding revenue projections for
Legends Hall from what was forecasted for the year.
She also noted that revenue is below what is expected for memberships at
Champions Club due to the mix and type of memberships, currently at 2,084
members.
ii. Sales Tax Report
Chief Financial Officer Sharen Jackson presented the Board with the most
recent sales tax data. She noted that March 2021 collections were at $652,047
and was a 48 percent increase from what was collected in March of the
previous year and still 39 percent above what the City collected in 2019. She
explained that this was not due to any audit adjustment and was due to large
increases in retail and restaurant sales.
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May 25, 2021 CEDC Minutes
b. Economic and development activity report
i. Local Economic Update — FY 2021 Q2 Economic Activity Report
Director of Economic Development & Tourism Daniel Cortez provided the
Board with an update on the economic activity in Southlake. He noted that the
1-cent sales tax was also experiencing a surge in revenue just as the 3/8 CEDC
sales tax is and when looking at the City's hotel market, the City is at 74 percent
of revenue for the budget year with still half the year remaining. He also stated
that the hotels are seeing increases in leisure travel and the Westin Hotel is
expected to open in in October.
Director Cortez also recognized and thanked two members on the Board,
Martin Schelling and Tom DeCaro, that participated and worked on the
Economic Recovery Task Force that provided valuable feedback to the City on
managing the economic crisis the City experienced in 2020.
6. ADJOURNMENT
Board President Schelling adjourned the meeting at 7:08 p.m.
artin Schelling, Board President
Community Enhancement and Development Corporation Board
'1,i
Craig itiCt nt, Board Secretary
Com . ty Enhancement and Development Corporation Board
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