River Ridge board approves $2.5 million term note after monument bid jumps

Chair Bob Schultz and the River Ridge Community Development District Board voted on May 26 to approve a Gulf Coast Business Bank tax‑exempt term note financing $2,500,000 to support capital projects, subject to amending an acceleration clause and finalizing documents. The motion, made by Supervisor Kurt Blumenthal and seconded by Chair Bob Schultz, passed unanimously with all five supervisors voting in favor.

District staff told the board the bid for four monuments increased “from $250,000 to $631,000,” a figure that is not itemized and does not include landscaping. Chuck Adams, District Manager, said the advertised term note was “insufficient given the verbal increase in the monument amount.” Board discussion covered phasing projects, value engineering, interest rates and whether to delay monuments while proceeding with permitting and other work. The chair was authorized to execute final documents once edits are completed.