The Rivers Edge III Community Development District adopted a $3.2 million general fund budget for fiscal year 2027 (FY2027). Tax roll assessments will rise by $314,000 as developer Mattamy Rivertown LLC picks up a smaller share of costs.

The adopted budget totals $3,197,332, up about $164,559 from the FY2026 adopted budget of $3,032,773. The fiscal year runs Oct. 1, 2026, through Sept. 30, 2027.

Homeowners will fund the bulk of it. Special assessments collected through the St. Johns County tax roll rise to $1,415,923, up from $1,101,765 in FY2026. Another $663,736 comes from direct-billed assessments. Together, the two assessment streams total nearly $2.1 million.

Mattamy Rivertown LLC is budgeted to contribute $1,040,048, down from $1,666,333 in FY2026. The budget narrative states the district will enter a funding agreement with the developer, though it is not clear whether that agreement has been executed.

Where the money goes

Grounds maintenance is the single largest spending category at $1,628,323. That includes a $1,021,317 annual contract with Yellowstone for landscape upkeep of common areas and the amenity center, paid at $85,110 per month. Irrigation water use accounts for $243,307. Solitude Lake Management LLC handles lake maintenance at $40,360.

Amenity center operations come in at $933,101. Vesta Property Services Inc. staffs the facilities at 110 Grand Verde Drive and the River Lodge at 100 Grand Verde Drive with a general manager, amenity manager, lifestyle director, lifeguards, guest services and maintenance workers. Fitness equipment is leased at $68,896 per year.

Two line items saw sharp increases. The electric budget for the amenity center jumped to $57,000 from $20,000 in FY2026. Actual electric spending had already hit $39,340 by June 30. Pool chemical costs doubled to $40,000.

The district set aside $500,000 for capital reserves earmarked for future renewal, replacement and unanticipated needs. Administrative costs total $135,908, covering $35,000 each for district management by Governmental Management Services LLC and legal counsel from Kilinski Van Wyk PLLC, plus $20,000 for district engineer Prime AE Group.

Debt and cost-sharing

Rivers Edge III also carries three debt service funds for bond Series 2021, 2024 and 2025. The Series 2021 fund alone budgets $547,500 in payments, including a $225,000 principal payment and $322,500 in interest.

A cost-sharing agreement with the neighboring Rivers Edge II district will bring in $74,126 for landscaping, down from $186,679 in FY2026.

The district holds its board meetings at the RiverHouse, 156 Landing St. in St. Johns. Residents can find agendas and budget documents at RiversEdge3CDD.com.