Page 349 - Southlake FY22 Budget

SPECIAL rEVEnUE FUnDS EXPEnDITUrES

SALES TAX DISTrICTS

southlake Parks deVeloPment corPoration
(sPdc)
In the mid-1990s, the City Council called for a special election to petition
the voters of Southlake to approve the adoption of a half cent sales tax for
the benefit of the Southlake Parks Development Corporation (SPDC). The
SPDC has allowed the City to accelerate the development of the City’s park
system, as defined by the park master plan. It is a critical funding source for
the ongoing improvement of the City’s quality of life through parks and open
space.

The SPDC is a Type B corporation that can expend funds for a wide variety of
projects. Type B projects consist of land, buildings, equipment, facilities or
expenditures for industrial or commercial ventures that create primary jobs;
funding or constructing infrastructure for commercial areas; and projects
related to recreation and community facilities.

Tax revenues may also be used to fund administrative and other expenses that
place the project into operation. The expenses may include administrative
expenses for the acquisition, construction, improvement, expansion and
financing.

Fund Utilization
Known as Southlake 2030 Parks, Recreation, Open Space and Community
Facilities Master Plan, the City of Southlake uses a comprehensive plan
that includes major elements to guide and prioritize Southlake’s growth
and development. This plan guides both elected and appointed officials in
selection and prioritization of projects. It also helps with forecasting planned
funding for the following four budget years.

Funding for SPDC projects since 1993 totals more than $78 million, allowing
developed park acreage to almost double since 2008. This includes investments
for land acquisition and development of: Bicentennial Park ($41.4 million),
Bob Jones Park ($15.9 million), North Park ($8.8 million), neighborhood parks
throughout Southlake ($4.2 million), and Southlake Sports Complex ($2.7
million). See the chart below for SPDC project funding since
1993.
TRAILS JOINT USE THE MARQ OTHER
0%
1%
1% 3%
SENIOR CENTER
When the City Council adopted the Southlake 2030 Parks, 0%
Recreation, Open Space and Community Facilities Master Plan, NORTH PARK
11%
this plan showed an 85% increase in total park acreage over BOB JONES NATURE CENTER
that identified in the 2025 plan. This growth has prompted the 2%
City Council to work with the SPDC Board of Directors and Parks SPORTS COMPLEX
4%
BICENTENNIAL PARK
and Recreation Board to transition certain park operating costs NEIGHBORHOOD 53%
out of the General Fund and into the SPDC operating fund. 5%
While the SPDC budget can and should be used to support
operational costs associated with the improvements funded,
these funds may not be used to support the general operations
of the City. BOB JONES PARK
20%
SPDC Project Funding since 1993

348 FY 2022 City of Southlake | BUDGET BOOK
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