River Ridge approves $2.5 million term note; monuments deferred after cost spike
Facing a reported increase in monument bids from $250,000 to $631,000, the board approved a $2.5 million Gulf Coast Business Bank tax‑exempt term note on May 26, subject to amending an acceleration clause and finalizing documents; members discussed delaying monument work.
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The River Ridge CDD approved a Gulf Coast Business Bank tax‑exempt term note for $2.5 million on May 26 to fund district projects, while noting a significant unanticipated increase in monument costs.
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