Agenda 04/28/2026 Item #16A17 (Interlocal agreement authorizing the Big Cypress Stewardship District to provide alternative financial securities)4/28/2026
Item # 16.A.17
ID# 2026-900
Executive Summary
Recommendation to approve an interlocal agreement authorizing the Big Cypress Stewardship District to provide
alternative financial securities for the construction of infrastructure within the Town of Big Cypress.
OBJECTIVE: To approve an Interlocal Agreement between Collier County, the Big Cypress Stewardship District (the
"District"), and Collier Land Holdings to allow for alternative financial securities for specific infrastructure
developments within the Town of Big Cypress.
CONSIDERATIONS: On February 24, 2026, during Commissioner Communications, Commissioner McDaniel
requested an agenda item to explore using municipal bonds in place of a surety bond for subsurface infrastructure within
the Big Cypress Stewardship District.
Staff worked with the District to create an interlocal agreement that would allow alternative forms of security, in place of
traditional performance bonds or letters of credit, for permits within the Big Cypress Stewardship District. The draft
interlocal agreement requires the District to complete the infrastructure secured by the District's bonds to serve as
alternative forms of security in place of performance security for certain subdivision and excavation permits within the
District. If the Developer defaults, the County will compel the District to complete the specific infrastructure work. The
District's municipal bonds, backed by its full faith and credit, provide a reliable and enforceable assurance of
performance. The Interlocal Agreement provides cost savings to the District, provides the County a high level of
protection, and keeps the County from having to step in, call on a bond, and complete infrastructure.
The Florida Legislature passed HB 927 during the 2026 Legislative Session, which will amend Florida Statute 177.071,
regarding alternative financial securities. That statute will require local governments to accept these alternative securities
and is "limited to verifying that the amount, form, and issuer satisfy the requirements of F.S. 177.091(8) and (9) and the
local government's uniformly applied standards. This bill has not been signed by the Governor, but will go into effect on
July 1, 2026, unless it is vetoed.
The Town of Big Cypress has applied for a subdivision plat (PL20220007035) and three excavation permits
(PL20240001783, PL20240001786, and PL20250009736) and is proposing to use an alternative financial security,
guaranteed through the Big Cypress Stewardship District, for the required bonds associated with these applications.
Other than the petitions expressly stated in the Interlocal Agreement, the District will be required to provide the County
with bonds in accordance with the Land Development Code and the Code of Laws and Ordinances, unless this Interlocal
Agreement is amended.
The Interlocal Agreement provides for the financial assurances guaranteed through the bonds received by the County for
these permits. Additionally, it includes a termination clause, allowing the County to terminate the Agreement for cause.
Operate an efficient and customer-focused permitting process.
FISCAL IMPACT: The issuance of bonds does not require any contribution from, or create any financial obligations
on, the Board of County Commissioners or any other County agency. The applicant is responsible for all permitting fees.
GROWTH MANAGEMENT IMPACT: The approval of the interlocal agreement will have no impact on the Growth
Management Plan. The infrastructure will be permitted, constructed, and inspected in accordance with all Collier County
Land Development Code, Code of Laws and Ordinances, and Utility Standards Manual regulations.
LEGAL CONSIDERATIONS: This item is approved as to form and legality and requires a majority vote for Board
approval. -HFAC
4/28/2026
Item # 16.A.17
ID# 2026-900
RECOMMENDATION(S): To approve the Interlocal Agreement between Collier County, the Big Cypress Stewardship
District, and Collier Land Holdings to allow for alternative financial security for a certain subdivision plat and certain
excavation permits per the Interlocal Agreement.
PREPARED BY: Jaime Cook, Director, Development Review Division, Growth Management Community
Development Department
ATTACHMENTS:
1. Interlocal Agreement - Big Cypress
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INTERLOCAL GOVERNMENT AGREEMENT
Agreement for Alternative Assurance of Completion of Infrastructure
(Town of Big Cypress)
THIS INTERLOCAL GOVERNMENT AGREEMENT (“Agreement”) is made and entered into
as of this ______ day of __________________, 2026, by and between Collier County, a political
subdivision of the State of Florida (the “County”), the Big Cypress Stewardship District (“District”), an
independent special district created by Chapter 2004-423, Laws of Florida (hereinafter the “Act”), Collier
Land Holdings, Ltd., a Florida limited partnership, and CDC Land Investments, LLC, a Florida limited
liability company (together with their successors or assigns, collectively, the “Landowners”). The County,
the Landowners and the District are herein referred to as the parties.
RECITALS:
A. The Landowners are undertaking a regionally significant project in Collier County, Florida,
known as The Town of Big Cypress (the "Project").
B. The Project is within the District, which, pursuant to the Act, is intended to fund the
construction of certain public infrastructure, including, without limitation, roads, stormwater, utilities, and
other similar improvements, through the issuance of municipal bonds.
C. The District’s bonding capacity is up to One Billion Two Hundred Million Dollars
($1,200,000,000.00) for such purposes, and the Special Assessment Revenue Bonds, Series 2026 Bonds
(“Bonds”), in the amount of $15,460,000.00, were issued on February 6, 2026, which are earmarked for the
Alternative Assurance Improvements (defined below) and other District infrastructure.
D. Under Sections 10.02.C.1.a and 10.02.04.F.2.d of the Collier County Land Development
Code, the County requires performance security for the completion of subdivision infrastructure, which
may be in the form of an alternate security.
E. Under Code of Laws Section 22-115, excavation performance security is required until the
excavation and requirement of LDC Section 3.05.10 and Code of Laws, Chapter 22, Article IV, Excavation
are completed.
F. Under Section 22-115, an excavation performance guaranty may be secured by District
bonds through agreement with the County;
G. For the specific infrastructure itemized in this Agreement, the County will accept the
district’s completion obligations supported by the District's municipal bonding capacity as an alternate
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security, as authorized by the Collier County Land Development Code and the Collier County Excavation
Code.
H. The County, District, and Landowners’ desire to set forth the terms under which the District
will, upon demand by the County, complete (or cause the completion of) the Alternative Assurance
Improvements (defined below) if the Landowners abandon the Project or otherwise fails to complete such
infrastructure.
AGREEMENT:
1. Definitions.
a. "Alternative Assurance Improvements" means only those infrastructure improvements
specifically listed and itemized on Exhibit A-1 and depicted on Exhibit A-2, (collectively, “Exhibit A”) all
attached hereto and incorporated herein by this reference.
b. “Engineer's Estimate” means the engineer's calculation of probable costs for the Alternative
Assurance Improvements, attached as Exhibit A-1.
c. "Landowners’ Failure" means the Landowners’ abandonment of the Project or failure to
complete one or more Alternative Assurance Improvements in accordance with LDC Section 10.02.04 for
subdivisions and Chapter 22, Article IV of the Code of Laws and Ordinances for excavations, following
written notice by the County (the “First Notice”) to Landowner and District with thirty (30) days’
opportunity to cure.
d. "Demand Notice" means the County's written notice delivered under Section 4 demanding
District performance for identified Alternative Assurance Improvements.
2. Term. The Alternative Assurance Improvements shall be performed in accordance with the timeline
under Section 10.02.05.C.2 of the Land Development Code.
3. Alternative Assurance.
a. District Bonds. The District Bonds are secured by special assessments on property within
the Project, exceed the Engineer’s Estimate, and are available to fund the Alternative Assurance
Improvement. The District’s obligation to fund and complete the Alternative Assurance Improvements
shall be secured by, and enforceable against, such District Bonds through the District. The District hereby
represents and warrants that the proceeds of the District Bonds are legally available and may be applied to
fund the Alternative Assurance Improvements, if needed. The District shall allocate and apply such bond
proceeds, to the extent necessary, to ensure the timely completion of the Alternative Assurance
Improvements.
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b. Limited Scope. The District's obligations under this Agreement apply only to the
Alternative Assurance Improvements. No infrastructure is covered by this alternate security unless
expressly and particularly itemized on Exhibit A, which may be amended through a written instrument
signed by the Parties.
c. Bond Assurances. In the event the financing mechanisms initially identified by the District
are insufficient, unavailable, or delayed in providing funds necessary to complete the Alternative Assurance
Improvements, the District shall promptly pursue and utilize other financing mechanisms including, without
limitation, utilization of District Bond proceeds. The District’s obligation to complete or cause completion
of the Alternative Assurance Improvements shall not be contingent upon the availability or sufficiency of
any single funding source. The District shall use best efforts to ensure that any bonds or other financing
instruments are issued and proceeds applied in a timely manner to avoid delay in completion of the
Alternative Assurance Improvements. Failure to secure funding from any preferred or initially identified
source shall not relieve, delay, or diminish the District’s obligations under this Agreement, and the County
may require the District to draw upon its District Bond financing if necessary to satisfy such obligations.
d. County Demand Right. Upon Landowners’ Failure, the County may deliver a Demand
Notice to the District identifying (a) the specific Alternative Assurance Improvements not completed, (b)
the status of work, and (c) the County's requested schedule for completion. Prior to issuance of a Demand
Notice, the County will provide the First Notice to Landowners and District, unless the County determines
immediate action is necessary to protect the public health, safety, or welfare.
e. Obligation to Complete or Cause Completion. Following receipt of a Demand Notice, the
District shall use its lawful powers to complete, or cause the completion of, the identified Alternative
Assurance Improvements, including through the use of financing mechanisms available to the District such
as municipal bonds, to the extent legally available and duly authorized. Within 30 days after receipt of a
Demand Notice, the District shall deliver to the County a written implementation plan describing the
District's intended method and schedule to complete or cause completion of the identified Alternative
Assurance Improvements. The County and District shall reasonably coordinate on permitting, inspections,
acceptance procedures, and access necessary for completion and acceptance of the Alternative Assurance
Improvements. The District acknowledges that the County is accepting the District’s obligations under this
Agreement in lieu of traditional performance security. Accordingly, upon receipt of a Demand Notice, the
District shall timely and diligently pursue completion of the Alternative Assurance Improvements and shall
take all actions within its legal authority that are reasonably necessary to secure and apply funding for such
completion. The District shall prioritize the funding and completion of the Alternative Assurance
Improvements over other discretionary capital improvements of the District.
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f. Failure to Timely Cure the Default. If the District does not undertake, commence and
thereafter diligently continue to complete the Alternative Assurance Improvements as provided in Section
3.e, then following the notice and process as described in Section 5, the County may exercise its rights
under Section 6 hereof.
4. Preservation of Standard Surety Requirements for Non-Covered Improvements. The County,
District, and Landowners acknowledge and agree that, except for the Alternative Assurance Improvements
expressly identified on Exhibit A, the Landowners shall provide completion bonds and/or other surety
instruments in favor of the County for improvements as otherwise typically required by the County in
accordance with the County’s codes and regulations. Nothing in this Agreement shall be construed to
waive, reduce, or modify the County's requirements for completion assurance for improvements not
included in Exhibit A.
5. Default. Separate from the First Notice and Demand Notice, each of the parties hereto shall give
the other party written notice of any default hereunder and shall allow the defaulting party a reasonable
time (not to exceed thirty (30) days unless otherwise agreed to by the parties) from the date of its receipt of
such notice within which to cure any such defaults and to thereafter notify the other parties of the actual
cure of any such defaults. If the breach is not cured within said time period, the County and District shall
be entitled to all remedies at law or in equity, which may include but not be limited to, damages, injunctive
relief and specific performance. The parties may utilize the governmental dispute procedures set forth in
Chapter 164, Florida Statutes, and any amendments thereto (“Conflict Resolution”) . By execution of this
Agreement the District expressly consents to any such Conflict Resolution initiated by the County and shall
with all diligence adopt any necessary resolutions or instruments necessary to implement such Conflict
Resolution. In the event of litigation to enforce the remedial provision of this Agreement, the prevailing
party shall be entitled to recover all reasonable attorneys' fees and costs associated with any such litigation
at the trial level and/or appeal.
6. Termination: The County reserves the right to terminate this Agreement with cause (i.e., failure to
perform after the Demand Notice) upon providing the District with thirty (30) days' written notice of the
County's intent to terminate. In the event of termination, the Landowners shall provide the County with
replacement surety for the Alternative Assurance Improvements within 30 days’ written notice of the
County’s intent to terminate.
7. Abolishment of the District. In the event the District is dissolved, terminated or repealed by law or
otherwise ceases to exist or function, the County may unilaterally terminate this Agreement by providing
notice pursuant to Section 9 and recording notice of such termination in the Public Records of Collier
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County, Florida, whereupon the County may require appropriate financial assurances for all outstanding
and future Alternative Assurance Improvements from the Landowners.
8. County Option to Complete Improvements. In the event the District, fails to complete the
Improvements in the manner provided in this Agreement, the County may, at its sole option and discretion,
step in and complete said Alternative Assurance Improvements, whereupon the County may proceed to
recover its costs by appropriate action as authorized in this Agreement.
9. Notices. All notices, requests, consents and other communications hereunder shall be in writing
and shall be delivered, mailed with delivery confirmation tracking system, or hand delivered to the Parties,
as follows:
(a) If to District: Big Cypress Stewardship District
3501 Quadrangle Boulevard, Suite 270
Orlando, Florida 32817
Attn: District Manager
With a copy to: Kutak Rock LLP
107 West College Avenue
Tallahassee, Florida 32301
Attn: Jonathan T. Johnson
(b) If to County: Collier County
3299 Tamiami Trail East, Suite 201
Naples, Florida 34112
Attn: County Manager
With a copy to: Collier County Attorney's Office
3299 Tamiami Trail East, Eighth Floor
Naples, Florida 34112
Attn: County Attorney
(c) If to Landowners: ________________________
________________________
________________________
________________________
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With a copy to: ________________________
________________________
________________________
________________________
Except as otherwise provided herein, any notice shall be deemed received only upon actual delivery
at the address set forth herein. If mailed as provided above, notices shall be deemed delivered as stated on
delivery confirmation unless actually received earlier. Notices hand delivered after 5:00 p.m. (at the place
of delivery) or on a non-business day, shall be deemed received on the next business day. If any time for
giving notice contained in this Agreement would otherwise expire on a non-business day, the notice period
shall be extended to the next succeeding business day. Saturdays, Sundays, and legal holidays recognized
by the United States government shall not be regarded as business days. Counsel for the parties may deliver
Notice on behalf of the Parties. Any party or other person to whom notices are to be sent or copied may
notify the other parties and addressees of any change in name or address to which notices shall be sent by
providing the same on five (5) days written notice to the parties and addressees set forth herein.
10. Severability. If any provision of this Agreement shall be held invalid or unenforceable, in whole
or in part, such provisions shall be ineffective to the extent of such invalidity or enforceability without, in
any manner, affecting the validity or enforceability of the remaining provisions.
11. Governing Law. This Agreement shall be governed by and construed in accordance with the laws
of the State of Florida.
12. Effective Date. This Agreement shall take effect upon signing by both parties and shall continue
indefinitely until cancelled by mutual agreement of the parties.
13. Entire Agreement; Amendment. This Agreement, including all exhibits, constitutes the entire
agreement among the parties with respect to the subject matter hereof and may be amended only by a written
instrument executed by all parties.
14. No Third-Party Beneficiaries. This Agreement is intended solely for the benefit of the County,
District, and Landowners, and no other person or entity shall have any rights hereunder.
15. Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an
original and all of which together shall constitute one and the same instrument.
16. Covenants and Rights Run with the Land. The covenants of this Agreement run with the land. It
is understood that Landowners are expected to dispose of all or portions of the property within the Project,
including the Alternative Assurance Improvements, to an affiliate landowner prior to engaging in any
development activity, and Landowners will notify any such affiliate landowner of this Agreement.
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17. Qualified Contractor. Landowners and their successors and assigns, agree not to use a Qualified
Contractor or Qualified Contractor Firm, as defined by Florida Statutes Sections 125.022 (2026) or
163.3169 (2026), as they may be amended from time to time, for the subdivision plats or excavation permits
that include the Alternative Assurance Improvements. This provision will not be deemed to apply to any
other improvements or facilities within the Project, which will proceed in accordance with general and
applicable law.
18. Filing. Upon execution, this Agreement shall be filed by the County with the Clerk of the Circuit
Court of Collier County, Florida, in accordance with the requirements of Section 163.01(11), Florida
Statutes.
IN WITNESS WHEREOF, the undersigned set of their hands as of the _____ day of
_____________, 202__.
Witnesses:
_________________________________
Print Name: ________________________
Address: ___________________________
___________________________
__________________________________
Print Name: ________________________
Address: ___________________________
___________________________
_________________________________
Print Name: ________________________
Address: ___________________________
___________________________
__________________________________
Print Name: ________________________
Address: ___________________________
___________________________
BIG CYPRESS STEWARDSHIP DISTRICT
________________________________
By: ___________, Board of Supervisors
Address: _____________________________
_____________________________
COLLIER LAND HOLDINGS, LTD.,
a Florida limited partnership
________________________________
By: ____________________________
Address: _____________________________
_____________________________
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_________________________________
Print Name: ________________________
Address: ___________________________
___________________________
__________________________________
Print Name: ________________________
Address: ___________________________
___________________________
ATTEST:
CRYSTAL K. KINZEL, CLERK
By:______________________________
By: _______________________________
Deputy Clerk
CDC LAND INVESTMENTS, LLC,
a Florida limited liability company
________________________________
By: ____________________________
Address: _____________________________
_____________________________
BOARD OF COUNTY COMMISSIONERS OF
COLLIER COUNTY, FLORIDA
By:____________________________________
Dan Kowal, Chairman
Approved as to form and legality:
By:__________________________________
Heidi Ashton-Cicko, Managing
Assistant County Attorney
Exhibits:
Exhibit A-1 List of Alternative Assurance Improvements
Exhibit A-2 BCSD Work Limits for Bond Relief
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EXHIBIT A
ALTERNATIVE ASSURANCE IMPROVEMENTS AND MAP OF IMPROVEMENTS
RLW/ TOBC Bonding
3/19/2026
Item Type of Bond Rate Total Cost Bond Amount Bond Cost %Bond Cost
PL20220007035 Town of Big Cypress PPL Year 1 Plat 110%
Paving Grading Drainage 5,981,114.80$
Utilities (Potable, Sanitary, IQ)7,333,127.00$
Landscaping, lighting 3,018,515.35$
16,332,757.15$ 17,966,032.87$ 3.0%538,980.99$
PL20220007035 Town of Big Cypress PPL Year 2 Plat 110%-$
Paving Grading Drainage 5,981,114.80$
Utilities (Potable, Sanitary, IQ)7,333,127.00$
Landscaping, lighting 3,018,515.35$
110%16,332,757.15$ 17,966,032.87$ 3.0%538,980.99$
PL20240001783 - TOBC Lakes 1- 11 Excavation 100%1,000,000.00$ 1,000,000.00$ 3.0%30,000.00$
PL20250009736 Outfall Lake, Lake L-2-23 Excavation 100%55,700.00$ 55,700.00$ 3.0%1,671.00$
PL20240001786 Lake 12 Excavation 100%308,300.00$ 308,300.00$ 3.0%9,249.00$
Total Est Bond Cost 1,118,881.97$
* Bond will be 110% until complete, then 10% for another year.
20th Ave NE18th Ave NE16th Ave NE
12th Ave NE
14th Ave NE
10th Ave NE
8th Ave NE
6h Ave NE
4th Ave NE
2nd Ave NE
GOLDEN GATE BLVD. EAST
2nd AVE SE
4th AVE SE
6th AVE SEDeSoto Boulevard24th Ave NE22nd Ave NEDeSoto BoulevardDeSoto BoulevardDeSoto BoulevardDeSoto BoulevardBCSD WORK LIMITS
FOR BOND RELIEF
0 750 1500SCALE: 1" = 1500''KMD
K:\2014\14-0018-TBC Interconnect Road\CAD\13225-Construction-Plans\Exhibits\Bond Full View Exhibit\TOBC Bond Exhibit.dwgPROJECT TITLE :
LJA PROJECT # : 14-0018
ACAD FILE # : N/A
DATE : March 26
DATUM CONVERSION: NAVD 88
LAKE 12 EXCAVATION
TOBC PPL / TOBC LAKES
1-11 EXCAVATION
OUTFALL LAKE
TOBC PPL
PL20220007035
TOBC LAKES 1-11 EXCAVATION
PL20240001783
OUTFALL LAKE
PL20250009736
LAKE 12 EXCAVATIONPL20240001786