River Ridge outlines gatehouse and monument replacements, anticipates ~$2.5M loan

Board members reviewed a revised Long Range Plan with cost estimates for neighborhood monuments and gatehouse renovations and discussed permitting and funding approaches.

Mr. Long said he kept the estimate to replace the four monuments at $250,000 and reported gatehouse renovation estimates of $615,775 for FY2026 and $407,240 for FY2027. He told the Board he will submit permit applications to the Village of Estero and said the gatehouse project will exceed the $550,000 sealed‑bid threshold and therefore require a sealed bid process. Long also noted coordination with the South Florida Water Management District and Florida Power & Light for related infrastructure work.

On financing, Mr. Long stated the overall change in the capital improvement plan "will necessitate a loan of approximately $2.5 million." District Manager said he will meet with Gulf Coast Business Bank to present a term sheet for a construction loan with principal $2.5 million and Costs of Issuance $50,000. The Board discussed timing and the sealed‑bid requirement; staff will return with permit status, final estimates and financing options.