2022-02-22 CEDC MinutesCITY OF
SOUTHLAKFE
TEXAS
SOUTHLAKE COMMUNITY ENHANCEMENT AND DEVELOPMENT CORPORATION
BOARD MEETING MINUTES: February 22, 2022
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 Secretary Craig
Sturtevant, Jeff Wang, and Jennifer Kolb.
COMMUNITY ENHANCEMENT AND DEVELOPMENT CORPORATION BOARD
MEMBERS ABSENT: Robert Mundlin and Mike Pazera
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 6:02 p.m.
2. Consider approving the minutes from the January 25, 2022 Community
Enhancement and Development Corporation meeting
A motion was made to approve the minutes from the January 25, 2022 meeting.
Motion:
Sturtevant
Second:
Wang
Ayes:
Schelling, Sturtevant, Wang, Kolb
Nays:
None
Abstain:
None
Vote:
4-0-0
Motion Carried — APPROVED
3. Consider the selection of Board officers
The Board discussed the nomination of officers to the board and determined to hold
the nominations until the entire board can be present.
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February 22, 2022 CEDC Minutes
A motion was made to table the selection of Board officers until the next scheduled
Board meeting.
Motion:
Sturtevant
Second:
Wang
Ayes:
Schelling, Sturtevant, Wang, Kolb
Nays:
None
Abstain:
None
Vote:
4-0-0
Motion Carried — APPROVED
4. Economic Development
a. City of Southlake — State of the Local Economy Presentation
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 2.8% locally, which is at the pre -pandemic levels and goals
set by the Economic Development Master Plan Addendum.
• The number of residential permits has decreased in 2021 to 74 new homes
while the average sales price of homes has increased to $1,250,862 which
represents an almost $300,000 increase from the year prior.
• The City has had a healthy 2021 in terms of occupancy rates in both sectors of
office, which is 85%, and retail, which is 94%. The City also saw an increase in
new business openings with approximately 79 new business openings.
• Sales Tax has also seen a healthy increase from previous years.,Fiscal Year
2021 saw an almost 17% increase in Sales -Tax and the last three months of
the 2021 calendar year saw record sales tax revenues.
• Local Demographics also experienced several changes in the 2020 census
from the previous. Population in Southlake rose from 26,575 to 31,265. The
median age increased from 39.5 to 42.6. The ethnic makeup shifted with Asian,
Hispanic or Latino and Two or More Races doubling in percentage size since
2010.
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 88% cost recovery as of the date of the meeting with a target of
65% for the year. She noted that Champions Club is at 97% cost recovery for
the year and that this is demonstrated by the new high numbers of
February 22, 2022 CEDC Minutes
memberships which were 2,662 in January. She also mentioned that Legends
Hall is also performing well and is anticipating a busy booking season with over
$200,000 in reservations.
ii. Sales Tax Report
Chief Financial Officer Sharen Jackson presented the Board with the most
recent sales tax data. She noted that the fiscal year-to-date sales tax
collections for the City are trending favorably and increased roughly 25% above
the previous year's sales tax collections for December with $926,993 in
revenue for the corporation. She noted that for the holiday season, which is
from October to December, the City was at a 33% increase this fiscal year over
the previous year.
b. Economic and development activity report
i. Southlake Landscape Reimbursement Grant Update
Director of Economic Development & Tourism Daniel Cortez provided an
update on the landscape reimbursement grant. He noted the City has
approved 8 applications and will be requesting that the Mayor extend the
deadline to the end of March.
6. Adjourn
Board President Schelling adjourned the meeting at 6:48 p.m.
Martin Schelling, Board President
Community Enhancement and Development Corporation Board
Craig S evant, Board Secretary
Comm y Enhancement and Development Corporation Board