2024-11-21 CEDC MeetinglugCITY OF
SOUTHLAKE
TEXAS
COMMUNITY ENHANCEMENT & DEVELOPMENT CORPORATION MEETING
THURSDAY. NOVEMBER 21. 2024
LOCATION: The Marq Southlake
Legends Hall - Boardroom
285 Shady Oaks Drive
TIME: 6:00 p.m.
AGENDA:
1. Call to order
2. Consider approving the minutes from the October 22, 2024, Community Enhancement and
Development Corporation meeting
3. Executive Session: Pursuant to the Open Meetings Act, Chapter 551, Texas Government
Code, Section 551.087: Deliberation regarding economic development negotiations.
Executive Session may be held, under this exception, at the end of the Regular Session
or at any time during the meeting that a need arises for the Community Enhancement
and Development Corporation to deliberate regarding economic development
negotiations.
a. Section 551.087: Deliberation reaardina economic development neaotiations - Discuss
the terms and conditions of an economic development incentive program - Project No.
2024-01. The Community Enhancement and Development Corporation Board may
discuss or deliberate regarding commercial or financial information received from a
business prospect that the city seeks to have locate, stay, or expand in or near the city
and which the City is conducting economic development negotiations; or to deliberate the
offer of a financial or other incentive to a business prospect as described above.
4. Staff reports:
a. Financial reports
i. The Marq Southlake financial highlights and membership sales report
ii. Sales tax report
b. Economic and development activity report
5. Adjourn
A quorum of the City Council may or may not be present at this meeting.
Page 1 of 2
CITY OF
SOUTHLAKE
TEXAS
CERTIFICATE
I hereby certify that the above agenda was posted on the official bulletin boards at Town Hall,
1400 Main Street,yySRytjVi,l�e, Texas on Friday, November 15, 2024, by 6:00 p.m., pursuant to
Chapter 551 of tts00iS�G, '(*;nment Code.
Veronica Lomb;, TR � 4
Deputy City secretary •` �'z
If you plan to att"M(M# I m �h �ing and have a disability that requires special needs, please advise
f+arfit�
the City Secretary 4� hours in advance at 817-748-8016, and reasonable accommodation will be
made to assist you.
Page 2 of 2
r,„: CITY OF
SOUTHLAKE.
TEXAS
SOUTHLAKE COMMUNITY ENHANCEMENT AND DEVELOPMENT CORPORATION
BOARD MEETING MINUTES: Thursday, November 21, 2024
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
Member, Bob Mundlin
Member, Jeff Wang
COMMUNITY ENHANCEMENT AND DEVELOPMENT CORPORATION BOARD
MEMBERS ABSENT:
Member, Eric Wang
STAFF PRESENT:
Chief Financial Officer, Sharen Jackson
Director of Economic Development & Tourism, Daniel Cortez
Deputy Director of Economic Development & Tourism, Robert Briggs
Deputy Director.of Community Services, Ryan McGrail
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 October 22, 2024, Community
Enhancement and Development Corporation meeting:
A motion was made to approve the minutes from the October 22, 2024, CEDC
meeting.
Motion: M. Pazera
Second: C. Sturtevant
Ayes: M. Schelling, Bob.Mundlin
Nays: None
Abstain: Jeff Wang
Vote: 4-0-1
Motion Carried —APPROVED
Thursday November 21, 2024 CEDC Minutes4
3. Executive Session: Pursuant to the Open Meetings Act, Chapter 551, Texas
Government Code, Section 551.087 — Deliberation regarding economic
development negotiations - Discuss the terms and conditions of an economic
development incentive program - Project No. 2024-01.
a. Executive Session Began at 6:02pm
b. Executive Session Concluded at 6:47pm
4. Staff Reports
a. Financial Reports
i. The Marq Southlake Financial Highlights and Membership Sales Report
CFO Jackson presented the Board with the previous month's Marq Southlake
Financial Highlights and Membership Sales Report. During the report, CFO
Jackson advised the Board that The Marq was currently outpacing their cost
recovery goal of 66% with a current rate of 72%, citing how the Legends Hall
operation continues to perform well in late 2024. Deputy Director McGrail
advised the Board during the report that Champions Club membership trends
are holding steady compared to previous years. Deputy Director McGrail
added that a small dip in recent membership rates was due to non-payment
and cited how staff is currently focused on ways to mitigate membership
lapses, due to non-payment.
ii. Sales Tax Report
CFO Jackson presented the Board with an updated Sales Tax Report advising
the City has experienced an overall dip in sales tax revenue, as compared to
last year. CFO Jackson added, historically the City performs well throughout
the Holiday season, which was on the horizon, and there is an expected
increase in revenue over the coming months. Additionally, Director Cortez
reminded the Board of the Economic Development & Tourism Department's
efforts to help drive up revenue including the upcoming Ice Skating Rink
offering in Southlake Town Square and the Open Rewards program, which will
enter its second year just after the Holiday season concludes.
b. Economic and Development Activity Report
Deputy Director Briggs provided the Board with the Business Engagement
Program Summary from the visit to The Southlake Hotel on September 13, 2024.
Deputy Director Briggs advised the meeting was conducted with Southlake Hotel
Director of Sales and Marketing, Dane Herrman. Highlights include how the hotel
continues to perform well, catering to the business traveler and smaller business
conference clients. Information was also shared on the hotel's current progress
towards rebranding under the Marriott Bonvoy umbrella to an offering in their
"Tribute" portfolio and how, once finished with the upgrades, the hotel's name will
ultimately change to "The Elmore."
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Thursday November 21, 2024 CEDC Minutes
5. Adjourn
a. Board President, Martin Schelling, adjourned the meeting at 7:02 p.m.
Martin Schelling, oard President
Community Enhancement and Development Corporation Board
Crai turtevant, Board Secretary
Community Enhancement and Development Corporation Board
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