2022 Las Colinas Association Annual Report

LAS COLINAS ASSOCIATION //

WHO WE ARE

Created and founded 50 years ago by visionary Ben Carpenter, Las Colinas is a community built to the highest standards and bolstered by a rich history.

The Las Colinas Association (LCA) has been at the center of this history since its inception in 1973, with the responsibility to maintain and enhance the community. The story of Las Colinas dates back even further to the vision of Ben Carpenter, who in the 1960s, dreamed of transforming his family’s sprawling ranch into a master-planned marvel. He envisioned a multi-use development with parks, lakes, golf courses, office buildings, canals, and overhead trams.

In 1973, Ben’s dream became a reality when the first commercial and residential properties were sold. Looking towards the future, he understood that creating a community was more than just building infrastructure. Maintaining the development with ongoing investments over time was the key to ensuring it remained a desirable place to live, work and explore.

Enter the Las Colinas Association, which through the support of its members, provides a range of services that make Las Colinas an exceptional community. From maintaining common areas like parks and waterways to enforcing deed restrictions and providing security patrols, LCA is dedicated to keeping Las Colinas safe, beautiful, and vibrant.

WHAT WE DO

The Las Colinas Association is dedicated to providing a high level of service to its members, which are comprised of both residential and commercial property owners. Some of the key services include:

• Provide enhanced coverage with security patrol by automobile, foot, and bike throughout Las Colinas

• Alarm monitoring for LCA members

• Uphold architectural standards to maintain the unique quality of Las Colinas

• Oversee more than 100 miles of medians and common areas through LCA’s litter control program

• Offer community advocacy, member resources and engaging activations

• Landscape and maintenance of 190 acres of parks and greenbelts

• Holiday light installation of over half a million lights in and around the Urban Center

WELCOME //

LETTER FROM THE PRESIDENT

With Las Colinas, Mr. Ben Carpenter had a goal to develop “the finest, most functional, and the most attractive real estate development ever created.” He recognized he was not building to meet an existing real estate market demand during the 1970’s, rather, he desired to create a new market with the highest standards that would withstand the test of time. To facilitate lasting quality, Mr. Carpenter developed a number of controls and processes in the Las Colinas Declaration that are still in effect today. Likewise, he created The Las Colinas Association to both administer the rules and covenants that apply to the real estate as well as preserve and protect the beauty of our community.

As in the past, this year’s report depicts much of the important activity that occurred in each of our service areas in fulfillment of Mr. Carpenter’s vision, but much of what makes Las Colinas special extends beyond these pages. This past year, LCA introduced even more color into the community with enhanced holiday light installations at the Flower Clock and Las Colinas common property areas. A recent tradition that appears to be appreciated by residents and visitors alike. In May, the City of Irving unveiled the highly anticipated renovation project for Williams Square Plaza. Following its debut, LCA now oversees the maintenance of the green space.

Las Colinas’ prominence in the commercial real estate market continued with several major announcements. Caterpillar Inc. and Builder’s FirstSource made major moves in 2022 announcing Las Colinas as their new corporate headquarters. Two Las Colinas landmarks have a bright future ahead bolstered by new management and significant project investments. Brookfield Asset Management purchased Toyota Music Factory’s long-term leasehold with the City and took over the mixed-used development last fall. Following a planned substantial renovation, the former Four Seasons Resort and Hotel will soon become The Ritz-Carlton Dallas, Las Colinas. During the transition, new ownership Partners Group and Trinity Fund Advisors will operate the property as the Las Colinas Resort, Dallas. 2022 wrapped with the announcement of a Wells Fargo regional office project occupying the largest remaining vacant tract in the Las Colinas Urban Center. The 22-acre office campus is expected to bring 4,000 workers to the region.

The celebration of athleticism was welcomed with three new events. In spring, the Club Corp Classic (now Invited Celebrity Classic) teed off at the Las Colinas Country Club. The officially sanctioned PGA Tour Champions and Charles Schwab Cup event featured 40 celebrity golfers who competed alongside the pros for a professional prize purse of $2 million. The USA Triathlon Multisport National Championships Festival took over Levy Event Plaza last April. Five months later, Las Colinas welcomed the Professional Triathletes Organisation for its first event hosted in the U.S.

As Las Colinas approaches its 50th anniversary in 2023, the LCA Board, staff, and numerous partners have been diligently developing a variety of programs and activities to commemorate our beloved community. I’m eager to join you in the festivities and look forward to making this celebration a memorable and thrilling experience.

J. Hammond Perot President & CEO

BOARD OF DIRECTORS //

The Las Colinas Association is governed by non-compensated, volunteer board members, with equal representation for residential and commercial properties. An executive team, along with leadership and staff, oversee the day-to-day operations of LCA.

EXECUTIVE OFFICE

J. Hammond Perot, President

Jennifer Austin, Managing Director

Carl McKee, Special Assistant to the President

Jan Paradis, Administrator

Jules

GENERAL OFFICE

Kang, Director of Member Relations and Development

Diane Sainton, Office Coordinator Patricia Castillo, Administrator

Carl Klinke Residential Representative

Danny Opitz Vice Chairman, Member-At-Large

Barbara McNutt Treasurer, Commercial Representative

Sushil Patel Chairman

Kenneth Gwyn Secretary Residential Representative

Ken Reese Commercial Representative

Carl McKee ACC Chair

J. Hammond Perot President & CEO Harry Lake Commercial Representative

Shaila Quoreshi

*Other categories include items such as signs, paint changes, landscaping, pools, roofs and arbors.

38

AVERAGE NUMBER OF SUBMISSIONS VIEWED AT EACH ACC MEETING IN 2022

Number is approximated and includes both residential and commercial ACC submissions.

49

RESIDENTIAL AND COMMERCIAL ACC MEETINGS IN 2022

ACC meetings are not held during the weeks of Thanksgiving and Christmas.

STRATEGIC PLANNING //

WAYFINDING SIGNAGE INSTALLATION COMPLETE

The Las Colinas Urban Center wayfinding system installation was completed in 2022. The signage provides easier navigation and improved walkability for visitors, residents and office workers throughout the Las Colinas Urban Center. The sleek new signs consist of substantial gateway monuments, parking and directional signage as well as business directory kiosks.

HISTORY PRESERVATION PROGRESS

Tim Glass, Director

INFORMATION TECHNOLOGY // PAYMENT PORTAL ENHANCEMENTS

The Las Colinas Archive was launched in March 2020 to preserve the history of our community through documents, photographs, maps, drawings and personal stories. Content collection and archival work continued throughout 2022 with the addition of 17 oral history interviews and the beta launch of the online archive. The completed project will be presented to the public as part of Las Colinas’ 50th Anniversary celebrations.

INFORMATION TECHNOLOGY

Chase McCullough

In 2022, LCA launched an updated payment portal to lascolinas.org. The Las Colinas Association now accepts American Express and Discover credit cards as well as ACH (electronic check) payments to provide members with more options.

COMMUNITY RELATIONS AND MARKETING //

LCA’S LOUDEST AND PROUDEST

Whether it’s a neighborhood event, a new restaurant opening or development updates, you’ll find the Marketing and Community Relations department close by cheering on Las Colinas. Through bi-monthly newsletters and restaurant guides, social media communications, weekly blog posts and a variety of events, the CR and Marketing team keeps the Las Colinas community connected.

In 2022, Las Colinas saw the return of a beloved charitable event, welcomed a celebrity golf tournament as well as two professional race tournaments and created more opportunities to celebrate the rich culture of the community.

4

COMMUNITY RELATIONS

Signature events hosted by LCA including Bowl-A-Thon, Paws Colinas 5K-9, Day of the Dead Canalside Celebration and Holiday in the Plaza

Volunteers who participated in LCA events 67

Number of community and non-profit events sponsored by LCA 26

4.5 million

Impressions served on Facebook and Instagram by @LasColinasTex

Candace Emerson, Director Jessica Hubble-Luther Caitlin Smith

1. Paw Colinas 5K-9

2. Bowl-A-Thon

3. Club Corp Classic (now Invited Classic)

4. Summer Snowdown

5. Day of the Dead Canalside Celebration

6. Holiday in the Plaza

COMMON PROPERTY //

THOUGHTFULLY PLANNED, PERFECTLY PLANTED

The charm of Las Colinas can be found on display throughout common areas or nestled among the Urban Center cityscapes. Manicured landscapes, vibrant, seasonal flowers and a pristine environment have been trademarks of the community for the past 50 years.

In 2022, the Las Colinas Common Property department delivered significant investments which include:

• Installation of permanent landscape lighting in several areas including Island Green, The Flower Clock and at Rochelle Blvd. and Northgate Blvd.

• Landscape and hardscape enhancements were completed at Flagpole Hill in University Hills

• Light fixtures throughout Las Colinas common areas were updated with LED fixtures

• Painted City of Irving bridges on major streets

• Landscape enhancements at wayfinding signage

• An additional aerator was added to the lakes in Rochelle Park

• Five Aerators were added to the water features at the Island Green project located at State Hwy 114 and O’Connor.

• Additional Las Colinas holiday lighting and décor added to Las Colinas Blvd. center median north of Royal Ln.

• Median and park enhancements throughout Las Colinas

• Tree installation on the Beltline Rd. median located between Royal Lane and State Hwy 114

COMMON PROPERTY

Scott Wilson, Director

Darla McDaniel, Manager

Jaime Alvarez, Coordinator

Marcos Soto

Martin Lopez

Jose Pineda

Adolfo Leal

Megean Boone

LAS COLINAS ASSOCIATION’S PROPERTY MAINTENANCE INVESTMENT 2022*

*Includes maintenance of Paws Colinas, Levy Event Plaza, Promenade Ct. and 5 Litter Control Personnel

FINANCIALS //

STATEMENT OF FINANCIAL POSITION STATEMENT OF ACTIVITIES

CURRENT

REVENUES,

Year ended December 31, 2022

CURRENT

EXPENSES AND LOSSES

NET ASSETS

Year ended December 31, 2022

STATEMENT OF ACTIVITIES cont’d Without

FINANCE & ADMINISTRATION

Lynn Strickland, Director

Zulema Alvarez

Velma Martindale

Rebecca Neeley

Brandon Reynolds

Amy Widdison