Page 363 - CityofSouthlakeFY27Budget

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Funding for SPDC projects since 1994 totals more than $171 million, allowing developed park acreage
to almost double since 2008. This includes investments for land acquisition and development of:
Bicentennial Park ($46.7 million), Bob Jones Park ($15.9 million), North Park ($8.8 million) Athletic Field
turf ($12.3 million), neighborhood parks throughout Southlake ($4.2 million), and Southlake Sports
Complex ($2.9 million). See Figure 4 for SPDC project funding since 1993.

When the City Council adopted the Parks, Recreation, and Open Space Comprehensive Plan, the plan
showed an 85% increase in total park acreage over that identified in the 2025 plan. This growth has Special Revenue Funds
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 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.

Additionally, in 2026, the Board recommended adoption of new guiding principles and cost-sharing
guidelines for the Corporation. These guidelines are incorporated into the City’s financial policies as part
of the budget and clarify how costs are shared between the corporation and the general fund.

FY 2027 City of Southlake | Budget Book 363