The estimated cost to build The Marq Southlake is $52,400,000.
Phase 1 of The Marq Southlake opned in December 2015 was funded with a budget of $15,000,000. The City saved since 2009 and was able to fund Phase 1 with cash. The City Council chose to fund Phase 2 utilizing a special purpose sales tax. The estimated cost for Phase 2 is $37,400,000.
Sales Tax District Facts
The new sales tax distruct reallocated part of the City of Southlake sales tax allotment from the Crime Control Protection District (CCPD) to Southlake's Parks Development Corporation (SPDC).
Sales Tax Allocation
Southlake Enacts 2% Rate
1% to General Fund
1/8% to Crime Control & Prevention District (CCPD)
3/8% to Community Enhancement & Development Corporation Tax District
1/2% to Southlake Parks Development Corporation (SPDC)