River Ridge approves $2.5 million tax‑exempt term note after monument cost spike
Facing a verbal bid increase for monument work from $250,000 to $631,000, the River Ridge Board approved a Gulf Coast Business Bank tax‑exempt term note for $2,500,000 on May 26, 2026, subject to amending the acceleration clause and finalizing documents.
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The Board approved a Gulf Coast Business Bank tax‑exempt term note financing $2,500,000 on May 26, 2026, after staff reported a verbal, non‑itemized increase in the bid for four monuments from $250,000 to $631,000. District staff and supervisors discussed delaying monuments, phasing projects, value engineering and the adequacy of the proposed term note to cover the increased monument cost.
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