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River Ridge CDD adopts loan amendment and approves $173,367.78 ditch‑cleaning contract
Summary
On June 25 the River Ridge CDD adopted Resolution 2024‑05 to amend its Series 2024 note with Synovus Bank and unanimously approved a $173,367.78 MRI Construction estimate for ditch cleaning; district staff said loan proceeds will cover the drainage projects and irrigation contingencies.
The River Ridge Community Development District board on June 25 unanimously adopted Resolution 2024‑05, authorizing a first amendment to the loan agreement for its Improvement Revenue Note, Series 2024, and approved a $173,367.78 estimate from MRI Construction, Inc. to clean dry retention flow‑way ditches adjacent to River Course holes #6–#8.
District Manager Chuck Adams presented the resolution and said the loan proceeds will cover drainage projects within the original scope and that staff had added irrigation work with a 10% contingency. On a motion by Supervisor Kurt Blumenthal, seconded by Vice Chair Terry Mountford, the board adopted Resolution 2024‑05 by unanimous voice vote among the five supervisors present.
On a subsequent motion by Blumenthal, seconded by Supervisor Robert Twombly, the board approved the MRI Construction estimate for $173,367.78 to remove debris and perform flow‑way cleaning adjacent to River Course holes #6–#8; that motion also passed by unanimous voice vote. The board noted funding for these drainage projects is tied to the amended Series 2024 note with Synovus Bank.
The board also reviewed the proposed Fiscal Year 2025 budget; Mr. Adams said staff used general fund balance to keep assessments flat for the coming year. The board accepted unaudited financial statements as of May 31, 2024 and directed staff to provide follow‑up information as needed.
