River Ridge approves $2.5M term note, delays monuments amid sharp bid increase
The board authorized a $2.5 million tax‑exempt term note subject to amending its acceleration clause after being told monument bids rose from $250,000 to $631,000; board discussed phasing projects and deferring monuments.
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Eric Long reported that the bid for four entrance monuments increased from $250,000 to $631,000 and that the higher figure is not itemized and excludes landscaping. Chuck Adams told the board the proposed Gulf Coast Business Bank term note, as drafted, is insufficient given the verbal monument increase, and the board discussed options to proceed with permitting and delay monument construction.
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