Page 273 - CityofSouthlakeFY25AdoptedBudget

Community Enhancement and Development Corporation

The Community Enhancement and Development Corporation (CEDC) was formed when Southlake voters
approved the special levy of a 3/8 cent sales tax in 2015. The funds are dedicated toward the construction
of Phase II of The Marq Southlake, known as Champions Club. Funds will also be used to support operational
expenses related to The Marq as well as special economic development projects.

In December 2015, the City opened Phase I of The Marq Southlake, Legends Hall. Legends Hall includes
amenities such as a ballroom, multipurpose conference and meeting space, club lounge, full catering kitchen, Debt Service
and an outdoor amphitheater. The Senior Center is also included in Legends Hall. Phase I was paid for with
cash, primarily from the General Fund.

Champions Club held its grand opening in April 2019, and is funded through the CEDC sales tax revenue
bonds. The 84,000 square foot, state-of-the-art facility includes amenities such as an indoor pool, outdoor
turf training field, spaces for fitness, performance training, gymnasium, indoor jog/walk track, indoor aquatics,
indoor playground, party rooms, early learning classroom, child watch and multipurpose classrooms for
programs.

The schedule at on the next page shows the City’s outstanding CEDC bond debt, including principal and
interest amounts as well as the bond maturity date.

FY 2025 City of Southlake | Budget Book 273