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River Ridge board amends Series 2024 loan and approves $173,367.78 ditch-cleaning contract
Summary
The River Ridge CDD adopted Resolution 2024-05 to amend use of Series 2024 note proceeds and unanimously approved an MRI Construction, Inc. estimate of $173,367.78 for dry-retention flow-way ditch cleaning adjacent to River Course holes #6–#8.
At its June 25 regular 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, the noted purchaser.
After discussion about project scope and funding, the board unanimously approved an MRI Construction, Inc. estimate in the amount of $173,367.78 for dry retention flow-way ditch cleaning adjacent to River Course holes #6 through #8. District Manager Chuck Adams told supervisors that loan proceeds will cover the drainage projects as part of the original scope and that staff had added an irrigation project with a 10% contingency.
The motions to adopt Resolution 2024-05 and to approve the MRI Construction estimate were each seconded and passed with all in favor. The item originally listed as the Sixth Order of Business (revised project scope for the Series 2024 note) was handled during discussion of the Fifth Order of Business and reflected in the motions recorded.
