River Ridge board approves $2.5 million tax‑exempt term note to finance projects

Board members discussed a verbal increase in monument costs — from an earlier $250,000 bid to a $631,000 figure that was not itemized and excluded landscaping — and how that affects financing plans. Eric Long reported the rise and said permitting could proceed while monuments are delayed. After discussion the board approved a Gulf Coast Business Bank tax‑exempt term note for $2,500,000, subject to amending the acceleration clause and finalizing documents; Chair Bob Schultz was authorized to execute the financing documents.