Agenda 10/28/2025 Item #11B (Resolution, Commercial Paper Loan Stormwater Capital Improvements)SEE REVERSE SIDE
Proposed Agenda Changes
Board of County Commissioners Meeting
October 28, 2025
Add on Item 5B to be heard immediately following Awards and Recognitions: Check presentation by the
Collier County Tax Collector, Rob Stoneburner.(Staff’s Request)
Move item 16B3 to 11F: Recommendation that the Board adopt a Resolution designating that portion of
Immokalee Road from Oil Well Road to US Route 41 as the “Charlie Kirk Memorial Highway,” and
direct staff to install appropriate signage designating the “Charlie Kirk Memorial Highway” to be installed
at each terminus of the designated roadway segment, at specified intervals along the road, and at all 4
intersections of I-75/Immokalee Road; consistent with County and FDOT signage standards.
(Commissioner LoCastro’s Request)
Move companion items 17A & 17B to 9C & 9D: This item requires Commission members to provide ex-
parte disclosure. Should a hearing be held on this item, all participants are required to be sworn in.
Recommendation to approve an Ordinance rezoning property from the Rural Agricultural (A) zoning
district to the Residential Planned Unit Development (RPUD) for a project to be known as 8928 Collier
Boulevard RPUD to allow for 92 multifamily residential dwelling units with Affordable Housing. The
subject PUD, consisting of 9.49± acres, is located on the east side of Collier Boulevard (C.R. 951),
approximately 1,300 north of the intersection of Collier Boulevard and Hacienda Lakes Parkway in
Section 14, Township 50 South, Range 26 East, Collier County, Florida. [PL20230018397]
Recommendation to approve an Ordinance amending Ordinance No. 89-05, as amended, the Collier
County Growth Management Plan to create the Bonita Flores Residential Infill Subdistrict to allow for 92
multi-family residential dwelling units with affordable housing; directing transmittal of the adopted
amendment to the Florida Department of Commerce. The subject property is located on the east side of
Collier Boulevard, approximately 1,300 feet north of Hacienda Lakes Parkway in Section 14, Township
50 South, Range 26 East, consisting of 9.49± acres. [PL20230013845] (Commissioner Hall’s Request)
Notes:
TIME CERTAIN ITEMS:
Item 5B to be heard after Awards and Recognitions: Check presentation by the Collier County Tax Collector,
Rob Stoneburner.
Item 10A to be heard after Proclamations: Request that the Board adopt a Resolution that condemns anti-
Semitism in all forms and expressions.
Item 10B to be heard at 10:00 AM: Recommendation to prioritize the construction of the additional
athletic fields, as recommended in the Hunden Partners studies, as the next phase of development of the
Paradise Coast Sports Complex, pending the approval of the tourist development tax referendum.
Items 11A, 11B & 11C to be heard Immediately following Item 10B: Presentation on funding strategies for
countywide Stormwater Capital, Operations, and Maintenance program; resolution to borrow up to $65M via the
Florida Local Government Finance Commission’s pooled commercial paper program for stormwater capital
projects; and Resolution amending Resolution 2022-123 to add transportation improvements for commercial paper
funding and increase authorized borrowing to up to $50M.
Item 11D to be heard at 2:00 PM: Recommendation to approve a Resolution amending the Growth
Management Community Development Department Services Fee Schedule, with an effective date of
January 1, 2026, in accordance with the Collier County Code of Laws and Ordinances, Section 2-13.
10/27/2025 7:45 PM
10/28/2025
Item # 11.B
ID# 2025-4291
Executive Summary
Recommendation to approve a Resolution authorizing the County's borrowing an amount not exceeding $65,000,000
under the Florida Local Government Finance Commission's Pooled Commercial Paper Loan Program for the purpose of
financing the costs of various stormwater capital improvements; this loan is secured by the County’s covenant to budget
and appropriate legally available non ad-valorem revenue; authorize the execution of a loan note or loan notes to
evidence such borrowing; authorize the execution and delivery of other such documents as may be necessary to effect
such borrowing; and authorize all necessary Budget Amendments.
OBJECTIVE: Approve the Resolution authorizing the County’s borrowing an amount not to exceed $65,000,000 to
finance the costs of stormwater capital improvements.
CONSIDERATIONS: Stormwater capital and planning activities for the secondary and tertiary systems are funded by
the General Fund. Current funding levels cannot adequately support the rehabilitation of existing aging infrastructure
and enhancements needed to improve flood control and water quality. The current five-year Stormwater Capital
program has an estimated $305 million dollar deficit.
In order to finance the immediate stormwater capital improvements identified in Exhibit A, staff is proposing the
attached Resolution to allow the County to borrow moneys, on an interim basis, through the Florida Local Government
Finance Commission's Commercial Paper Loan Program (the "Loan Program").
The Florida Local Government Finance Commission (FLGFC), which is marketed and administered by the Florida
Association of Counties, has for over thirty (30) years provided local governments with a flexible, low-cost financing
alternative. Since inception, the program has loaned over $2.9 billion to more than fifty-five (55) counties, cities, school
boards, port authorities and other special districts across the State of Florida.
Initial loan terms may be up to five years, with potential future five (5) year rollovers, and repayment terms are flexible
and tailored to participant needs. The commercial paper notes which fund the loans are secured by a direct-pay letter of
credit issued by JP Morgan Chase (Bank) providing the letter of credit supporting the program. The Bank maintains a
high credit rating in the short-term marketplace and this excellent credit rating allows the commercial paper notes to be
issued at low interest rates which are passed on to program participants. Loan repayments are secured by the County’s
covenant to budget and appropriate from legally available non-ad valorem revenues.
The commercial paper program is tax-exempt and therefore any future draws must be reasonably expected to be spent
within three years. Interest rates are variable and subject to change on a monthly basis. The proposed Resolution
delegates authority to the County Manager to borrow funds pursuant to the Loan Program in the amounts and at the
times necessary to finance the capital costs of the projects described above.
FINANCE COMMITTEE RECOMMENDATION: On July 30, 2025, the Finance Committee met to discuss
‘Transportation Management Services’ need for additional funding sources for stormwater capital improvements and
unanimously approved the use of the Florida Local Government Finance Commission's Pooled Commercial Paper Loan
Program in an amount up to $65,000,000 for the purpose of financing various stormwater capital improvements.
This item is consistent with the Infrastructure and Asset Management Element of Collier County’s Strategic Plan by
planning and building public infrastructure and facilities to effectively, efficiently and sustainably meet the needs of our
community.
FISCAL IMPACT: Approval of the Resolution provides the framework to draw loans, it does not obligate any loan
draw. The fiscal year 2026 current estimate of the funding shortfall related to various stormwater capital improvements
is $65,000,000. At the current interest rate in the program, 3.65 including all fees, $65,000,000 in principal would cost
approximately $2,372,500 in annual interest. Any loan under the Loan Program may be prepaid upon at least 45 days’
notice without penalty, and any remaining principal would likely be refinanced as part of a long-term, fixed interest rate
bond.
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10/28/2025
Item # 11.B
ID# 2025-4291
GROWTH MANAGEMENT IMPACT: There is no growth management impact associated with this action.
LEGAL CONSIDERATIONS: This item has been reviewed by the County Attorney, is approved as to form and
legality and requires a majority vote for Board approval. -JAK
RECOMMENDATIONS: To approve the Resolution authorizing participation in the Loan Program, execution of the
loan agreement and the borrowing of up to $65,000,000 for the purpose of financing the costs of various stormwater
capital improvements and authorize all necessary Budget Amendments.
PREPARED BY: Ellen Sheffey, Division Director, Fiscal & Grant Services
ATTACHMENTS:
1. Resolution - Commercial Paper Stormwater
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