River Ridge approves $2.5 million term note after monument bid jumps
After learning the bid for four entrance monuments rose from $250,000 to $631,000, the board approved a $2.5 million tax‑exempt term note subject to amending the acceleration clause and finalizing documents; staff discussed phasing monuments and value engineering.
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Board members discussed financing and project phasing after Eric Long reported a verbal increase in monument costs. Long said the bid for the four monuments "increased from $250,000 to $631,000," an amount not itemized and excluding landscaping. District counsel and staff discussed that the previously contemplated term note would be insufficient to pay the updated monument bid if the district proceeds immediately.
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