River Ridge board approves $2.5M term note after monument bid jumps
The board approved a $2.5 million tax-exempt term note to finance district projects after staff reported a verbal monument bid increase from $250,000 to $631,000; members discussed delaying monuments or phasing projects to address the gap.
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The River Ridge CDD Board approved a Gulf Coast Business Bank tax-exempt term note financing $2,500,000 on May 26, 2026, subject to amending the acceleration clause in the note and finalizing documents. The motion passed unanimously.
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