CDD approves $2.5 million term note after monument bid jumps to $631,000
The Board approved a Gulf Coast Business Bank tax-exempt term note financing $2,500,000, subject to amending the acceleration clause and finalizing documents. Directors discussed an unitemized monument bid that rose from $250,000 to $631,000 and agreed to proceed with permitting while delaying monuments if needed.
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Eric Long told the Board that the bid for four monuments increased from $250,000 to $631,000 and that the higher monument figure was not itemized and did not include landscaping. District counsel and staff discussed options including proceeding with permitting while delaying monument work until cost-itemization and value-engineering numbers are received.
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