River Ridge approves $2.5 million term note; monument costs rose sharply
The board approved a Gulf Coast Business Bank tax-exempt term note financing $2.5 million after discussion that a monument bid rose from $250,000 to $631,000 and may need phasing or delay; approval was subject to amending the acceleration clause and finalizing documents.
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Eric Long reported that the bid for four monuments rose from $250,000 to $631,000 and that the figure was not itemized and excluded landscaping. District staff noted the term note being considered did not cover the verbal increase; the board discussed phasing the monuments and proceeding with permitting while delaying monument construction.
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