Share
Search
  • Home
  • Community Enhancement and Development Corporation
Friday, April 19, 2024

Call for Volunteers – Be a Part of Southlake’s Boards and Commissions

Do you want to be part of the City of Southlake team? The City Council is seeking residents who want to be engaged in their community and help support the City Council in their mission.

On October 16, 2018, the Mayor and City Council will make appointments to the Community Engagement Committee, Community Enhancement and Development Corporation,  Crime Control and Prevention District, Library Board, Senior Advisory Commission, and Arts Council.

Citizens interested in helping their local government in the areas of community engagement and outreach programs, promoting economic development and new business enterprises, safety and security, library planning and programming, senior-related programs, and public art are encouraged to complete an application for a board or commission. Applications may be obtained from the City’s website.

Each appointment is for a term of two years, unless appointed to fulfill an existing vacancy for an unexpired term. It takes a team to run a City, and City Council wants you to be a part of their team. If you have the desire and the commitment to devote to our community, please complete an application and e-mail it to cborges@ci.southlake.tx.us or fax it to (817) 748-8270 in the City Secretary’s Office.

You can also mail or hand-deliver your application to the City Secretary’s Office, 1400 Main Street, Suite 270, Southlake, Texas 76092. Applications must be received no later than September 4.

City Receives Favorable Bond Bids for The Marq Southlake Phase 2

The Community Enhancement and Development Corporation (CEDC) Board of Directors and City Council have approved the Bank of America (BOA) bid for bonds needed to construct Phase 2 of The Marq Southlake at a true interest rate of 2.54%.

The bid reflects favorable market conditions and a strong bond rating of AA+ for the City’s CEDC. The bond sale was for $24.2 million needed to continue the construction of the second phase of the new facility.

“The bids we received were much better than anticipated,” said the City’s Chief Financial Officer Sharen Jackson. “We budgeted a 4.25% interest rate, which means that we are reducing the debt service requirements by over $6 million with the favorable bid from BOA.”

Phase 2, Champions Club, includes many recreational features, including an aquatic center, fitness area, gymnasium, jog/walk track, indoor playground and an indoor and outdoor turf area.

It will complement Phase 1, known as Legends Hall, a premier activity and event venue featuring a ballroom, meeting rooms, a catering kitchen, a Club Lounge and a senior activity center. Phase 1 also includes Aria, an outdoor amphitheater. No debt was incurred for the cash-funded $15 million Phase 1, which opened in December 2015.

The bonds needed for Phase 2 will be repaid from revenue generated through a special sales tax approved by Southlake voters in May 2015.

The final total construction cost of Phase 2 will be $37.4 million. Final action on the selection of the construction manager at risk contract for Phase 2 will occur in September. It is anticipated that construction on Phase 2 will begin in the Fall.