2025-06-24 CEDC Meeting
COMMUNITY ENHANCEMENT & DEVELOPMENT CORPORATION MEETING
TUESDAY, JUNE 24, 2025
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 May 27, 2025, 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 regarding economic development negotiations - Discuss
the terms and conditions of an economic development incentive program - Project No.
202 4-01 . 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. Economic Development:
a. Review Discussion of FY 2026 Economic Development and Capital Improvement
Program budget items
5. The Marq:
a. Discussion of FY 2026 The Marq budget items
6. 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
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, June 20 , 2025, by 6:00 p.m., pursuant to Chapter
551 of the Texas Government Code.
________________________________
Amy Shelley, TRMC
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 accommodation will be
made to assist you.
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CITY OF
l SOUTHLAKE
TEXAS
SOUTHLAKE COMMUNITY ENHANCEMENT AND DEVELOPMENT CORPORATION
BOARD MEETING MINUTES: Tuesday, June 24, 2025
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, Vice President Mike Pazera,
Board Secretary Craig Sturtevant, Bob Mundlin, Jeff Wang, and Eric Wang
COMMUNITY ENHANCEMENT AND DEVELOPMENT CORPORATION BOARD
MEMBERS ABSENT: None
STAFF PRESENT: Chief Financial Officer & Board Treasurer Sharen Jackson, Director
of Economic Development & Tourism Daniel Cortez, Deputy Director of Community
Services Ryan McGrail, Hospitality & Sales Manager Crystal Maddalena, Champions
Club Operations Manager Amy Bennett, and Economic Development & Tourism
Specialist Dylan Duque
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 27, 2025, Community
Enhancement and Development Corporation meeting,:
A motion was made to approve the minutes from the May 27, 2025, CEDC meeting.
Motion: J. Wang
Second: Sturtevant
Ayes: Schelling, Pazera, Sturtevant, J. Wang, Mundlin, E. Wang
Nays: None
Abstain: None
Vote: 6-0-0
Motion Carried —APPROVED
3. Executive Session: Pursuant to the Open Meetings Act, Chapter 551, Texas
Government Code, Section 551.087 — Deliberation regarding economic
development negotiations
a. Discuss the terms and conditions of an economic development incentive
program - Project No. 2024-01.
Tuesday June 24,2025 CEDC Minutes
• Executive Session began at 6:01 p.m.
• Executive Session concluded at 7:04 p.m.
4. Economic Development
a. Discussion of the FY 2026 Economic Development and Capital Improvement
Program Budget Items
Director Cortez provided the board a review of standard items CEDC funds
related to economic development followed by an explanation of the request for
the FY 2026 marketing request which is a carryover of FY 2025 funds that will not
be expended consisting of Media Strategy, Creative Messaging Development,
and Media Execution, for an amount not to exceed $100,000 total.
5. The Marq
a. Discussion of FY 2026 The Marq Southlake budget items.
Hospitality& Sales Manager Crystal Maddalena and Champions Club Operations
Manager Amy Bennett provided the board with a comprehensive review of The
Marq's FY 2026 budget including budget amendments, updates to The Marq's fee
schedule, and the supplemental request for Champions Club Equipment
Replacement for an amount of$1,279,995.
6. Staff Reports
a. Financial Reports
i. The Marq Southlake financial highlights and membership sales report.
Chief Financial Officer and Board Treasurer Jackson presented the Board with
the most recent month's The Marq financial highlights and membership sales
report.
CFO Jackson advised that cost recovery metrics for The Marq is exceeding
the target of 64% at 72% cost recovery. She stated that memberships and
rentals are slightly less than the previous year for the month of June but the
positive revenue in May it should be offset and she expects to be within budget
for the end of the year.
ii. Sales Tax report
Chief Financial Officer and Board Treasurer Jackson updated the Board with
current sales tax trends noting that we are currently above budget for the year.
She stated we're seeing a 4.5% increase over last year for revenue in the
month of April. She also informed the board that she expects to be slightly
above budget as we get closer to closing out the fiscal year.
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• Tuesday June 24,2025 CEDC Minutes
b. Economic and Development Activity Report
Director of Economic Development & Tourism Daniel Cortez reminded the Board
of the Stars & Stripes Independence Day celebration being held in Town Square
on July 3rd
5. Adjourn:
Board President, Martin Schelling, adjourned the meeting at 7:18 p.m.
Martin Schelling, Board President
Community Enhancement and Development Corporation Board
Craig St evant, Board Secretary
Community Enhancement and Development Corporation Board
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