Agenda 10/28/2025 Item #11C (Resolution, amending Resolution 2022-123)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.C
ID# 2025-4292
Executive Summary
Recommendation to approve a Resolution amending Resolution 2022-123 to include certain transportation related
improvements as projects for Commercial Paper Loan funding and to increase the authorized borrowing amount to not
exceeding $50,000,000 under the Florida Local Government Finance Commission’s Pooled Commercial Paper Loan
Program. This Loan is secured by a covenant of the County to budget and appropriate sufficient legally available non-ad
valorem revenues in accordance with the terms of the Loan Agreement and as provided in the Resolution approving such
Loan, as amended; and that the Board authorize all necessary Budget Amendments.
OBJECTIVE: Approve the Resolution amending Resolution 2022-123 to include certain transportation related capital
improvements and to increase the not to exceed loan amount.
CONSIDERATIONS: On July 5, 2022, the Finance Committee met and unanimously approved the use of the Florida
Local Government Finance Commission's Pooled Commercial Paper Loan Program for the purpose of interim financing
the construction of Vanderbilt Beach Road Extension, Project 60168.On July 12, 2022, Agenda Item 11G, the Board
approved Resolution 2023-123 approving borrowing of not exceeding $30,000,000 from the Florida Local Government
Finance Commission to finance costs of the Vanderbilt Beach Road Extension, Project 60168. On July 8, 2025, Agenda
Item 11F, the Board approved the Infrastructure Sales Surtax spend-down plan, which included additional funding for
Vanderbilt Beach Road Extension, Project 60168, eliminating the need to finance the project.
The 5-year transportation capital plan identifies a funding shortfall of approximately $50,000,000 in FY 2026 related to
the Collier Boulevard (Green Boulevard to City Gate North), Everglades Boulevard (Vanderbilt Beach Road to Oil Well
Road), and Vanderbilt Beach Road Extension, Phase 2 projects. The existing Commercial Paper Loan was considered as
a source of funding for these projects. However, the current shortfall exceeds the approved borrowing limit authorized
by Resolution 2022-123, and the original project description list included in Exhibit A of the Resolution did not include
these three (3) projects.
With the final maturity of the Series 2014 Gas Tax Revenue Bonds in June of 2025, the transportation capital program
has no associated debt. Initial commercial paper loan terms may be up to five (5) years, with potential future five (5)
year rollovers, and repayment rules 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 providing the letter of credit
supporting the program. Loan repayments are secured by the County’s covenant to budget and appropriate from legally
available non-ad valorem revenues (Designated 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 monthly. 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 capital improvements and unanimously
approved amending the resolution to update Exhibit A to include additional transportation-related improvements, and to
increase the authorized borrowing amount to not exceeding $50,000,000.
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 amended Resolution provides the framework to draw up to $50,000,000.
However, it does not obligate any draws under the Loan Agreement. At the current interest rate in the program, 3.65%
including all fees, $50,000,000 in principal would cost approximately $1,825,000 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.C
ID# 2025-4292
GROWTH MANAGEMENT IMPACT: This item is consistent with the Growth Management Plan.
LEGAL CONSIDERATIONS: This item has been reviewed by both the County Attorney, is approved as to form and
legality, and requires majority vote for approval. -JAK
RECOMMENDATIONS: To approve a Resolution amending Resolution 2022-123 to include certain transportation
related improvements as projects for Commercial Paper Loan funding and to increase the authorized borrowing amount
to not exceeding $50,000,000 under the Florida Local Government Finance Commission’s Pooled Commercial Paper
Loan Program; this Loan is secured by a covenant of the County to budget and appropriate sufficient legally available
non-ad valorem revenues in accordance with the terms of the Loan Agreement and as provided in the Resolution
approving such Loan; and that the Board authorize all necessary Budget Amendments.
PREPARED BY: Ellen Sheffey, Division Director, Fiscal & Grant Services
ATTACHMENTS:
1. Resolution - Amending Resolution 2022-123 and Exhibit A
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