Lakeway Civic Corporation
History

History of the Lakeway Civic Corporation 

(Compiled from the records of the Civic Corporation and from Byron Varner’s “Lakeway:  The First 25 Years”. )
                                      (Revised December 2000) 

The founders of the Lakeway community had the vision and foresight to conceive a plan under which a percentage of revenue from lots sales would be contributed to a Trust Fund.  The income (not the principal from the Trust could be used for specific community needs.  This led to the establishment of the Lakeway Civic Corporation (“Civic Corporation”) in September, 1965, with the following stated purposes: 

·        “to render constructive services for promotion of the special welfare of the community and of its property owners and residents of Lakeway Subdivision and surrounding areas”

·        “to inculcate civic consciousness by means of active participation in constructive projects that will improve the community and the nation”

·        “to promote and provide recreational facilities for the residents and property owners of Lakeway Subdivision” and

·        “to acquire and maintain property and funds for charitable community services and recreational facilities.” 

Shortly thereafter, the “Lakeway Property Maintenance Trust Fund” was established with Capital National Bank as Trustee (now The Chase Global Private Bank).  The beneficiary of the Trust is the Lakeway Civic Corporation.  The trust agreement required the Lakeway Company to pay the lesser of:  (1)  10% of the purchase price; or (2) $200.,  into the trust upon the sale of each lot.  When the Trust was established, the founding developers (Lee Blocker, Flint Sawtelle and John Crooker) made an initial contribution of over $50,000, generously including every lot sold and paid for prior to the creation of the Trust.  The Trust has grown to a value of about $1.14 million  With the development of Rough Hollow and Lakeway Highlands in the coming years, additional contributions will be made to the Trust.   

The Corporation’s Board of Trustees consists of five individuals who are elected by Lakeway property owners for staggered terms of three years.  Two other positions on the Board are filled by appointees of Stratus Properties, formerly The Lakeway Company.  Board members for 2001 are John Auchter, Jon Champeny,  P. A. Penley, Ken Petticrew and Jim Teddlie.  Joe Howse serves as ex-officio.  Status Properties representative is Tim Dalton. 

In addition, The Lakeway Trust Committee (“Trust Committee”) was created by the trust agreement.  The Trust Committee is composed of three individuals who are authorized “by majority vote, to change (the) Trustee at any time upon serving  30 days written notice”.  Any successor Trustee must be a bank or a trust company.  The Trust Committee is currently composed of Harry Kolb, Bill Dickson and Ray Kilgore. 

From its inception the Civic Corporation played a major role in Lakeway’s growth and development by undertaking studies, answering challenges and offering guidance to a fledgling community struggling to find its wings. 

Under its charter, the Civic Corporation can own property and use the trust fund income to maintain and beautify such property.  The Lakeway Company deeded several greenbelt areas to the Civic Corporation in 1974, including Dragon Park, Lakeway Drive Parkway, Porpoise Park, Rebel Park and Sailfish Park.  Over the years, the Civic Corporation maintained and, where appropriate (such as Dragon Park) developed these properties.  In 1995, the Civic Corporation donated all of its parkland, including the Hamilton Greenbelt, to the City of Lakeway. 

Many projects have been coordinated, assisted or funded by the Civic Corporation over the years.  A complete list is available see Contributions

In 1989, Civic Corporation President Jack Hamilton and his wife Myrtle donated $44,000 to be used by the Civic Corporation to purchase from the Lakeway Company the 85 acres now known as the Hamilton Greenbelt.  Upon Jack’s death, he donated approximately $260,000 for the perpetual care of the land he and Myrtle loved.  The Lakeway Community Foundation now administers that fund.  The income from the fund is made available to the Parks and Recreation Committee of the City of Lakeway annually. 

In 1997, former Civic Corporation President Coleman Smith and his wife Mary fulfilled one of their dreams by making a contribution to add 4.5 acres behind City Hall to the greenbelt.  Known as the Smith Greenbelt, this tract was acquired and will be developed through their generosity.  The City of Lakeway also assisted in the acquisition by trading adjacent land that it owned to the seller. 

As Lakeway has grown into a full-fledged city, the city government has undertaken many of the functions that were previously performed by the Civic Corporation.  

Just as it did over thirty years ago, the Lakeway Civic Corporation holds a place in Lakeway’s future.  By looking forward with vision for our community, and with the means to assist in that vision, the Lakeway Civic Corporation still strives to “render constructive services”, “inculcate civic consciousness’, “ provide recreational facilities’, undertake  “charitable community purposes” and to “improve the community and the nation”.  We are grateful for that opportunity.