Alico, Inc. applauds Gov. Ron DeSantis for signing House Bill 4041 to create the Corkscrew Grove Stewardship District
Alico (Nasdaq: ALCO) announces the signing of House Bill 4041 by Governor Ron DeSantis, establishing the Corkscrew Grove Stewardship District in eastern Collier County. This independent special district will oversee infrastructure development for the previously announced Corkscrew Grove Villages, a master-planned community spanning 4,600 acres.
The development plan includes two 1,500-acre villages and over 6,000 acres of permanent conservation area. The project's East Village is currently seeking approval, with construction potentially starting in 2028 or 2029. The district will be managed by a five-member Board of Supervisors and will collaborate with local authorities, including the Immokalee Water and Sewer District.
Alico (Nasdaq: ALCO) annuncia la firma della House Bill 4041 da parte del Governatore Ron DeSantis, che istituisce il Corkscrew Grove Stewardship District nella parte orientale della contea di Collier. Questo distretto speciale indipendente sarà responsabile dello sviluppo delle infrastrutture per il già annunciato Corkscrew Grove Villages, una comunità pianificata che si estende su 4.600 acri.
Il piano di sviluppo prevede due villaggi di 1.500 acri ciascuno e oltre 6.000 acri di area di conservazione permanente. Attualmente, il Villaggio Est è in fase di approvazione, con la costruzione che potrebbe iniziare tra il 2028 e il 2029. Il distretto sarà gestito da un Consiglio di Supervisori composto da cinque membri e collaborerà con le autorità locali, incluso l'Immokalee Water and Sewer District.
Alico (Nasdaq: ALCO) anuncia la firma de la House Bill 4041 por el Gobernador Ron DeSantis, estableciendo el Corkscrew Grove Stewardship District en el este del condado de Collier. Este distrito especial independiente supervisará el desarrollo de infraestructuras para las previamente anunciadas Corkscrew Grove Villages, una comunidad planificada que abarca 4,600 acres.
El plan de desarrollo incluye dos pueblos de 1,500 acres cada uno y más de 6,000 acres de área de conservación permanente. Actualmente, la aldea Este está en proceso de aprobación, con la construcción que podría comenzar en 2028 o 2029. El distrito será administrado por una Junta de Supervisores de cinco miembros y colaborará con las autoridades locales, incluyendo el Distrito de Agua y Alcantarillado de Immokalee.
Alico (나스닥: ALCO)가 Ron DeSantis 주지사의 서명으로 House Bill 4041이 통과되어 콜리어 카운티 동부에 Corkscrew Grove Stewardship District가 설립되었음을 발표했습니다. 이 독립 특별 지구는 이전에 발표된 Corkscrew Grove Villages의 인프라 개발을 감독할 예정이며, 총 면적은 4,600에이커에 달하는 마스터 플랜 커뮤니티입니다.
개발 계획에는 각각 1,500에이커 규모의 두 개 마을과 6,000에이커 이상의 영구 보존 지역이 포함되어 있습니다. 현재 동쪽 마을은 승인 절차를 진행 중이며, 건설은 2028년 또는 2029년에 시작될 수 있습니다. 이 지구는 5명의 감독 위원으로 구성된 이사회가 관리하며, Immokalee 상하수도 지구를 포함한 지역 당국과 협력할 예정입니다.
Alico (Nasdaq : ALCO) annonce la signature de la House Bill 4041 par le gouverneur Ron DeSantis, établissant le Corkscrew Grove Stewardship District dans l'est du comté de Collier. Ce district spécial indépendant supervisera le développement des infrastructures pour les Corkscrew Grove Villages précédemment annoncés, une communauté planifiée s'étendant sur 4 600 acres.
Le plan de développement comprend deux villages de 1 500 acres chacun ainsi que plus de 6 000 acres de zone de conservation permanente. Le village Est du projet est actuellement en cours d'approbation, avec un début de construction possible en 2028 ou 2029. Le district sera géré par un conseil de surveillance composé de cinq membres et collaborera avec les autorités locales, y compris le district des eaux et égouts d'Immokalee.
Alico (Nasdaq: ALCO) gibt die Unterzeichnung des House Bill 4041 durch Gouverneur Ron DeSantis bekannt, mit dem der Corkscrew Grove Stewardship District im östlichen Collier County eingerichtet wird. Dieser unabhängige Sonderbezirk wird die Infrastrukturentwicklung für die zuvor angekündigten Corkscrew Grove Villages überwachen, eine mastergeplante Gemeinde mit einer Fläche von 4.600 Acres.
Der Entwicklungsplan umfasst zwei Dörfer mit jeweils 1.500 Acres und über 6.000 Acres dauerhafte Naturschutzgebiete. Das East Village des Projekts befindet sich derzeit in der Genehmigungsphase, der Baubeginn ist möglicherweise für 2028 oder 2029 geplant. Der Bezirk wird von einem fünfköpfigen Aufsichtsrat geleitet und arbeitet mit lokalen Behörden zusammen, darunter dem Immokalee Water and Sewer District.
- Creation of independent special district to efficiently manage infrastructure development
- Project includes over 6,000 acres dedicated to permanent conservation
- Unanimous support received from multiple government bodies and committees
- Strategic transformation of land assets into planned communities while preserving natural areas
- Long timeline to construction with potential starts in 2028-2029
- Multiple pending regulatory approvals still required
- Significant infrastructure investment and coordination needed
Insights
Alico advances its land monetization strategy with crucial regulatory approval for developing 4,600 acres into planned communities.
The signing of House Bill 4041 represents a significant milestone in Alico's strategic transformation from agricultural operations toward higher-value land development. The newly created Corkscrew Grove Stewardship District provides Alico with an essential infrastructure financing vehicle to develop its planned 4,600-acre Corkscrew Grove Villages project, which will include two 1,500-acre villages alongside 6,000 acres of conservation land.
This special district structure offers substantial advantages for Alico's development economics. It enables the company to issue tax-exempt bonds to finance infrastructure construction, effectively transferring those costs to future property owners through assessments rather than bearing them upfront. This improves cash flow timing and reduces development capital requirements.
The unanimous support from multiple government bodies indicates minimal regulatory friction for the project moving forward. The development timeline shows measured progress with final county commission approval expected in 2026 and construction potentially beginning in 2028-2029, suggesting a deliberate, long-term value creation strategy.
The project's scale is substantial – transforming thousands of agricultural acres into residential and mixed-use development represents significant potential value uplift. However, investors should note the extended timeline before material revenue generation, with at least 3-4 years before construction begins and likely 7-10 years for full project realization.
This regulatory approval advances Alico's strategic vision of gradually monetizing select land holdings through higher-value uses while maintaining its core agricultural operations.
FORT MYERS, Fla., June 25, 2025 (GLOBE NEWSWIRE) -- Alico, Inc. (“Alico” or the “Company”) (Nasdaq: ALCO), a Southwest Florida-based agribusiness and land management company with over 125 years of experience as stewards of its lands, applauds Gov. Ron DeSantis for signing House Bill 4041. The bill, which takes effect immediately, creates the Corkscrew Grove Stewardship District, an independent special district responsible for the construction, operations and maintenance of community infrastructure in eastern Collier County.
The enabling legislation was sponsored by Rep. Lauren Melo, a Naples Republican, and received unanimous support from the Collier County Legislative Delegation, the Florida House Intergovernmental Affairs Subcommittee, the Florida House Ways and Means Committee, the Florida House State Affairs Committee, the Senate Rules Committee, and the full Florida House and Florida Senate. The proposal also received unanimous support from the Collier Board of County Commissioners.
The Corkscrew Grove Stewardship District will assist Alico in its efforts to effectively finance infrastructure, help restore and manage natural areas, and oversee the administration of the master planned communities and lands within the district’s boundaries.
In March 2025, Alico announced the creation of Corkscrew Grove Villages in eastern Collier County. Located on approximately 4,600 acres at the northwest corner of Collier County on the border of Lee and Hendry counties, Corkscrew Grove Villages will not only provide future residents with ample opportunities to live, work and play, but also enhance public infrastructure, permanently protect thousands of acres of sensitive lands, and enhance wetlands and water resources. The plan consists of two 1,500-acre villages accompanied by more than 6,000 acres of permanent conservation area.
The district, which will be overseen by a five-member Board of Supervisors, will also help facilitate collaboration and communications with local, state and federal government agencies and community stakeholders. This includes partnering with the Immokalee Water and Sewer District on the planning, design, construction and delivery of potable water and sewer to Corkscrew Grove Stewardship District residents.
“We are grateful for the support of Gov. Ron DeSantis, Rep. Lauren Melo and the entire Florida Legislature,” said John Kiernan, the president and CEO of Alico. “Their approval of the Corkscrew Grove Stewardship District is not only a key milestone in implementing Alico’s strategic transformation, which thoughtfully converts select properties to well planned communities, but also in executing Collier County’s Rural Land Stewardship Area plan.”
Approved by the Collier Board of County Commissioners in 2002 and spanning approximately 185,000 acres in eastern Collier County, the Rural Land Stewardship Area (RLSA) plan is an innovative, incentive-based approach to planning and implementing long-term growth in rural regions. For the past 20 years, Alico has worked closely with other Southwest Florida landowners and community stakeholders to develop and implement the RLSA plan.
While the long-term vision for Corkscrew Grove Village includes two villages, Alico is currently seeking approval for the East Village as its first step. The process is anticipated to take approximately one year, with the final decision by the Collier Board of County Commissioners expected in 2026. Alico has also submitted permits to the South Florida Water Management District and the U.S. Army Corps of Engineers for both villages. Construction on the first village could begin in 2028 or 2029, if approvals are granted.
For more information about Corkscrew Grove Villages, visit corkscrewgrovecollier.com. For more information about Alico, visit alicoinc.com.
About Alico, Inc.
Alico, Inc. (Nasdaq: ALCO) is a Florida-based agribusiness and land management company with over 125 years of experience. Following its strategic transformation in 2025, Alico operates as a diversified land company with approximately 51,300 acres across 8 Florida counties. The Company focuses on strategic land development opportunities and diversified agricultural operations, leveraging its extensive land portfolio to create long-term shareholder value while maintaining its commitment to responsible land stewardship and conservation. Learn more about Alico at www.alicoinc.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not limited to, statements regarding the Company’s expectations with respect to its Strategic Transformation; the Corkscrew Grove Stewardship District’s assistance in the Company’s efforts to effectively finance infrastructure, help restore and manage natural areas, and oversee the administration of the master planned communities and lands within the district’s boundaries; the Company’s plans to pursue commercial and residential development, including with respect to the Corkscrew Grove Villages and the timeline for development thereof; and any other statements relating to our future activities or other future events or conditions. These statements are based on our current expectations, estimates and projections about our business based, in part, on assumptions made by our management and can be identified by terms such as “if,” “will,” “should,” “expects,” “plans,” “hopes,” “anticipates,” “could,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “forecasts,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions. These forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in the forward-looking statements due to numerous factors, including, but not limited to: our implementation of our planned Strategic Transformation; our plan to wind down our citrus production operations to focus on our long-term diversified land usage and real estate development strategy; our ability to secure necessary regulatory approvals and permits for land development projects, effectively manage and allocate resources to new business initiatives, attract and retain skilled personnel with expertise in diversified land usage and real estate development, navigate potential market fluctuations and economic conditions, maintain strong relationships with lenders and continue to satisfy covenants and conditions under current loan agreements and address potential environmental and zoning issues, and other challenges inherent in real estate development; our ability to increase our revenues from land usage and real estate development; adverse weather conditions, natural disasters and other natural conditions, including the effects of climate change and hurricanes and tropical storms; risks related to our expected significant revenue shift to real estate development and diversified farming operations; our ability to effectively perform grove management services, or to effectively manage our portfolio of groves; product contamination and product liability claims; water use regulations restricting our access to water; changes in immigration laws; harm to our reputation; tax risks associated with a Section 1031 Exchange; risks associated with the undertaking of one or more significant corporate transactions; the seasonality of our citrus business; fluctuations in our earnings due to market supply and prices and demand for our products; climate change, or legal, regulatory, or market measures to address climate change; Environmental, Social and Governance issues, including those related to climate change and sustainability; increases in labor, personnel and benefits costs; increases in commodity or raw product costs, such as fuel and chemical costs; transportation risks; any change or the classification or valuation methods employed by county property appraisers related to our real estate taxes; liability for the use of fertilizers, pesticides, herbicides and other potentially hazardous substances; compliance with applicable environmental laws; loss of key employees; material weaknesses and other control deficiencies relating to our internal control over financial reporting; macroeconomic conditions, such as rising inflation and the deadly conflicts in Ukraine and Israel and the Middle East; system security risks, data protection breaches, cybersecurity incidents and systems integration issues; our indebtedness and ability to generate sufficient cash flow to service our debt obligations; higher interest expenses as a result of variable rates of interest for our debt; our ability to continue to pay cash dividends; and certain of the other factors described under the sections "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" included in our Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2025 filed with the Securities and Exchange Commission (the “SEC”). Except as required by law, we do not undertake an obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise.
Media Contact:
Jenna Buzzacco-Foerster
Gravina, Smith, Matte & Arnold Marketing and PR
(239) 275-5758
Jenna@GSMA.pro
Investor Contact:
John Mills
ICR
(646) 277-1254
InvestorRelations@alicoinc.com
Brad Heine
Chief Financial Officer
(239) 226-2000
bheine@alicoinc.com
FAQ
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