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River Ridge board adopts loan amendment and approves $173,367.78 ditch‑cleaning contract
Summary
The River Ridge CDD adopted Resolution 2024-05 amending the use of proceeds of its Series 2024 Note and approved an MRI Construction estimate of $173,367.78 for dry retention flow-way ditch cleaning; multiple administrative budget and minutes corrections were also approved.
At its June 25 meeting, the River Ridge Community Development District adopted Resolution 2024-05 to amend the use of proceeds of its Improvement Revenue Note, Series 2024, and authorized a First Amendment to the loan agreement with Synovus Bank.
On motion by Supervisor Kurt Blumenthal, seconded by Supervisor Terry 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," with all in favor.
The board then approved an MRI Construction, Inc. estimate for dry retention flow-way ditch cleaning adjacent to River Course holes #6 through #8 in the amount of $173,367.78. That motion passed on a second motion with unanimous support.
Earlier in the meeting staff discussed a revised McCullers Construction Services estimate of $277,550 to install a new well and reviewed South Florida Water Management District watering restrictions and Lee County considerations; the board took no action on the well estimate and deferred the matter for future reconsideration.
The board also accepted unaudited financial statements as of May 31, 2024, approved amended minutes of the May 28 regular meeting after several line-item corrections, and voted to recommend that the Fining Committee review and take action against homeowners who removed littorals from Lake E4-C.
Votes and motions recorded in the minutes were unanimous where noted as "with all in favor." The resolution and contract approvals will allow staff to move forward with procurement and scheduling for the drainage-related work described by the district engineer.
