Page 279 - Southlake FY23 Budget

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.

When the City Council adopted the Southlake 2030 Parks, TRAILS JOINT USE THE MARQ OTHER
Recreation, Open Space and Community Facilities Master SENIOR CENTER 1% 3% 1% 0%
Plan, this plan showed an 85% increase in total park acreage NORTH PARK 0%
over that identified in the 2025 plan. This growth has 11%
prompted the City Council to work with the SPDC Board BJNC
2%
of Directors and Parks and Recreation Board to transition SPORTS COMPLEX
certain park operating costs out of the General Fund and into 4% BICENTENNIAL
the SPDC operating fund. While the SPDC budget can and NEIGHBORHOOD 53%
should be used to support operational costs associated with 5%
the improvements funded, these funds may not be used to
support the general operations of the City.

BOB JONES
20%
SPDC Project Funding since 1993

278 FY 2023 City of Southlake | BUDGET BOOK
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