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River Ridge CDD adopts loan amendment and approves $173,367.78 ditch‑cleaning estimate
Summary
The River Ridge board unanimously adopted Resolution 2024‑05 to amend the Series 2024 note and approved MRI Construction’s $173,367.78 estimate to clean a dry retention flow‑way adjacent to River Course holes #6–#8; motions were moved and seconded and passed with all in favor.
At its June 25 meeting, the River Ridge Community Development District board voted unanimously to adopt Resolution 2024‑05, authorizing an amendment to the use of proceeds for its Improvement Revenue Note, Series 2024, and to enter a first amendment to the loan agreement with the note purchaser, Synovus Bank.
On a separate motion, the board approved 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. The motion to adopt Resolution 2024‑05 was made by Mr. Kurt Blumenthal, seconded by Mr. Terry Mountford and carried with all in favor. The motion approving the MRI estimate was made by Mr. Blumenthal, seconded by Mr. Robert Twombly and also passed with all in favor.
Why it matters: The adopted loan amendment repurposes Series 2024 note proceeds to cover revised project scope that includes drainage work; the MRI contract approval authorizes immediate ditch‑cleaning work intended to address debris and flow constraints identified by the district engineer.
Details: Resolution 2024‑05 was presented by District Manager Chuck Adams; the MRI estimate was presented and explained by District Engineer Charlie Krebs, who answered questions about scope and funding. The record shows the motions passed unanimously by the five supervisors present: Chair Bob Schultz (participating by phone), Vice Chair Terry Mountford, and Supervisors Kurt Blumenthal, Jim Gilman and Robert Twombly.
What’s next: Staff indicated the loan amendment and contract approval will enable MRI to proceed with the scheduled ditch‑cleaning work; the engineer will continue to monitor drainage improvements linked to other Pinehurst concerns.
