2023-06-21 CEDC Minutes IgiCITY OF
SOUTHLAKE
TEXAS
SOUTHLAKE COMMUNITY ENHANCEMENT AND DEVELOPMENT CORPORATION
BOARD MEETING MINUTES: June 21, 2023
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 Mike
Pazera, Board Secretary Craig Sturtevant, Jennifer Kolb, Bob Mundlin and Jeff Wang
COMMUNITY ENHANCEMENT AND DEVELOPMENT CORPORATION BOARD
MEMBERS ABSENT: Eric Wang
STAFF PRESENT: Chief Financial Officer & Board Treasurer Sharen Jackson, Director
of Economic Development & Tourism Daniel Cortez, Director of Community Services
Chris Tribble, Director of Public Works Rob Cohen, and Economic Development
Specialist Stephanie Bernard
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 May 23, 2023 Community
Enhancement and Development Corporation meeting
A motion was made to approve the minutes from the May 23, 2023 meeting.
Motion: Mundlin
Second: Pazera
Ayes: Kolb, Schelling, Mundlin, Sturtevant, J. Wang, Pazera
Nays: None
Abstain: None
Vote: 6-0-0
Motion Carried — APPROVED
3. Economic Development
a. Review and provide feedback on the Workforce Attainment and Development
Plan
June 21, 2023 CEDC Minutes
Economic Development Specialist Stephanie Bernard provided the Board an
overview of the Workforce Attainment and Development Plan. Mrs. Bernard asked
the Board to provide feedback on the plan as well as the implementation strategy.
b. Discussion of FY 2024 Economic Development and Capital Improvement
Program budget items
Director of Public Works Rob Cohen provided the Board a brief overview of the
request for funding for S.H. 114 ramp reversals in an amount not to exceed
$241,000 during FY 2024 CIP budget for the purpose of construction.
No formal action was sought on this item other than board feedback and questions
on the requested funding.
4. The Marq
a. Discussion of FY 2024 The Marq Southlake budget items
Director of Community Services Chris Tribble presented to the Board with the
FY2024 budget items for The Marq. There were no new economic development
items for FY 2024.
No formal action was sought on this item other than board feedback and questions
on the requested funding.
5. Staff Reports
a. Financial Reports
i. The Marq Southlake financial highlights and membership sales report
Chief Financial Officer & Board Treasurer Sharen Jackson provided
information about Champions Club membership trends and revenue. She
informed the Board that the Marq overall is currently exceeding the target
annual cost recovery at 78.5%, with a budget anticipated target of just under
60% for the year. Legends Hall is exceeding the target cost recovery at 44%
with an annual goal of 33%. She noted there is roughly $150,000 of deferred
revenue on the books for the remainder of the fiscal year and $243,000 planned
for the remainder of this calendar year. Champions Club is at almost 85% cost
recovery with a target of 67%. Champions Club continues to see increases in
memberships, with 3,587 as of the date of the meeting. She noted that average
membership revenue is $260,000/month where pre-covid it was
$186,000/month.
ii. Sales Tax Report
Chief Financial Officer& Board Treasurer Sharen Jackson presented the Board
with the most recent sales tax data. She stated most recent sales tax
collections for sales in the month of April 2023 are flat but showed a 4%
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June 21, 2023 CEDC Minutes
reduction following an audit adjustment compared to the same time last year.
She noted she still anticipates CEDC projected budgeted collections to be met
by the end of the fiscal year.
b. Economic and development activity report
Director of Economic Development and Tourism Daniel Cortez provided the Board
with an update on the press release provided by Ikea relating to their new store
concept in Park Village. He also provided an update regarding Capital Grille and
provided the Board with a brief hotel occupancy update.
6. Adjourn
Board President Martin Schelling adjourned the meeting at 7:22 p.m.
Martin Schelling, Board President
Community Enhancement and Development Corporation Board
Craig S urtevant, Board Secretary
Community Enhancement and Development Corporation Board
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