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River Ridge board adopts loan‑amendment resolution, approves $173,368 ditch‑cleaning contract
Summary
The board adopted Resolution 2024‑05 to amend the use of Series 2024 note proceeds and unanimously approved MRI Construction’s $173,367.78 estimate to clean dry retention flow‑way ditches adjacent to River Course holes #6–#8, with work funded from loan proceeds per staff.
At its June 25 meeting, the River Ridge Community Development District board adopted Resolution 2024‑05 to amend the use of proceeds from its Improvement Revenue Note, Series 2024, and authorized a first amendment to the loan agreement with Synovus Bank.
District Manager Chuck Adams said loan proceeds will cover drainage projects originally within the loan scope and that staff added the irrigation project with a 10% contingency. On motion by Mr. Blumenthal, seconded by Mr. Mountford, the Board adopted Resolution 2024‑05 "Authorizing an Amendment in the use of the Proceeds of its Improvement Revenue Note, Series 2024; Authorizing the District to Enter Into a First Amendment to Loan Agreement with Synovus Bank, the Purchaser of the Note; and Providing an Effective Date." The motion passed with all in favor.
District Engineer Charlie Krebs presented MRI Construction, Inc.’s estimate to perform dry retention flow‑way ditch cleaning adjacent to River Course holes #6 through #8 for $173,367.78. After discussion of scope and funding, the Board approved the MRI estimate on a motion by Mr. Blumenthal, seconded by Mr. Twombly; the vote was unanimous.
No additional contract details, start dates, or completion timelines were specified at the meeting; staff indicated paperwork to implement the revised project scope would be provided under separate cover and easements required for some work are being prepared.
