River Ridge approves $2.5M tax‑exempt term note amid rising monument cost estimate
The board authorized a Gulf Coast Business Bank tax‑exempt term note for $2,500,000, subject to amending the acceleration clause and finalizing documents, after hearing that monument bids rose from $250,000 to $631,000; the board discussed delaying the monuments and proceeding with permitting.
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Eric Long told the board the bid for the four monuments increased from $250,000 to $631,000 and that the figure was not itemized and excluded landscaping. Mr. Adams said the proposed term note was insufficient given the verbal monument increase and suggested proceeding with permitting while delaying the monuments if necessary.
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