The estimated cost to build The Marq is $46,900,000.

Phase 1 of The Marq is already funded with a budget of $15,000,000. The City has saved since 2009 and will be able to fund Phase 1 with cash. Phase 2 of the project will require additional funding.  The City Council has chosen to fund Phase 2 utilizing a special purpose sales tax.  The estimated cost for Phase 2 is $31,900,000. Per state law, such a measure will require voter approval of a sales tax district dedicated to the project. The earliest this election will take place is May 2015. 

While Phase 2 of the project would require voter approval to create a sales tax district for the project, it is important to note that this district will not result in an increase to current tax rates.

Sales Tax District Facts
The proposed sales tax election would ask voters to reallocate part of the current City of Southlake sales tax allotment.

Currently 1% of the 8.25% sales tax is split between funding Southlake’s Parks improvement projects and the Crime Control Protection District (CCPD) with ½ penny going to each.

What could change is the CCPD allotment.  If approved by voters, the new allotment would be 1/8 of a penny, which would continue to fund the School Resource Officers (SRO) Program in Carroll Schools and other approved crime reduction initiatives.   The remaining 3/8 of a penny would be allotted to a newly created economic development district (Type A) that would support the construction and much of the operational costs of the completed CRC.

City of Southlake staff, under the guidance of the City’s Chief Financial Officer, has created a CRC business plan which will see the City through the construction, opening and first years of operation. That plan is based upon projected sales tax revenues in the coming years as well as other key financial indicators. 

Current Sales Tax Allocation

• Southlake Enacts 2% Rate
• 1% to General Fund
• 1/2% to Crime Control & Prevention District (CCPD)
• 1/2% to Southlake Parks Development Corporation (SPDC)

Proposal to Repurpose Sales Tax Capacity

• Southlake Enacts 2% Rate
• 1% to General Fund
• 1/8% to Crime Control & Prevention District (CCPD)
• 3/8% to New Sales Tax District
• 1/2% to Southlake Parks Development Corporation (SPDC)