Page 290 - CityofSouthlakeFY25AdoptedBudget

Southlake Parks Development Corporation (SPDC) Fund

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 Comprehensive 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.
Special Revenue Funds
Fund Utilization
Known as Southlake Parks, Recreation, Open Space and Community Facilities Comprehensive 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 $82 million, allowing developed park acreage to
almost double since 2008. This includes investments for land acquisition and development of: Bicentennial
Park ($44.5 million), Bob Jones Park ($15.9 million), North Park ($8.8 million) neighborhood parks throughout
Southlake ($4.2 million), and Southlake Sports Complex ($2.8 million). See the chart below for SPDC project
funding since 1993.

When the City Council adopted the Southlake Parks, Recreation, Open Space and Community Facilities
Comprehensive Plan, the plan showed an 85% increase in total park acreage over that identified in the 2025
plan. This growth has prompted the City Council to work with the SPDC Board of Directors and Parks and
Recreation Board to transition certain park operating costs out of the General Fund and into the SPDC
operating fund. While the SPDC budget can
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SPDC Project Funding since 1993

290 FY 2025 City of Southlake | Budget Book