Ownership will assure future of the fair
BY MARK J. CRAWFORD
Bradford County commissioners held a special meeting Monday night, agreeing to acquire the Bradford Fair Association’s debt to secure the future of the fairgrounds.
The Fair Association met simultaneously and voted to deed the property to Bradford County.
The association found itself facing foreclosure again after it could not make regular payments to the private investor who had previously acquired the debt, James Gissy.
The association originally borrowed funds to continue fairgrounds reconstruction. Having acquired partial funding from the state, the association planned to repay the debt with future state funding, but that funding never came. Gissy’s acquisition of the debt in 2023 saved the fairgrounds from foreclosure. It was the alternative to Bradford County’s offer to purchase the promissory note, which came with a stipulation — that the county would assume ownership and management of the fairgrounds.
The fair association rebuffed the county’s offer at the time, with BFA President Bob Milner noting that the fairgrounds was valued at millions of dollars more than the remaining debt. While there was ambitious talk, however, the association was unable to earn the revenue to repay Gissy’s investment and still stood to lose the fairgrounds.
Bradford County commissioners confirmed with their Feb. 24 vote that they would use public funds to save the annual fair and the fairgrounds from an uncertain future were it be sold.
While nothing has been decided about ownership or management, commissioners unanimously voted to offer $1.74 million to acquire the promissory note from Gissy. The closing date could be as soon as this Friday, according to County Manager Scott Kornegay.
The money would be paid out of the county’s approximately $12 million in contingency reserves, around $7 million of which is available for emergency use, according to Finance Director Dana LaFollette.
As far as ownership of the fairgrounds, Commission Chairman Danny Riddick said, “The cleanest thing would be for the current association to all resign and sign it over to the county. That would be the cleanest way to go, and that’s what we’re hoping for.”
As Kornegay pointed out, if the association was unable to pay the current lien holder, it’s unlikely it could repay the county, meaning the county could foreclose on the property but without the fear that a private owner would develop something on top of the fairgrounds.
The fair association also met Monday evening and voted to place the fairgrounds in the county’s hands.
In a press release from the association, BFA President Milner said, “Based on statements made publicly by members of the [Board of County Commissioners], the purchase of the note and subsequent possession of the property by the BOCC ensures the barns, arena and other properties will allow the agricultural fair to continue in addition to the Strawberry Festival and hopefully many other anticipated events in the coming years. The BFA will hopefully have a well-attended and profitable fair next week, the Strawberry Festival later in March and then begin the transition to ownership of the property by the BOCC.”
Future management of the fairgrounds has yet to be decided, but Milner said there is more than 150 years of experience among the members of the fair board, many who may wish to remain involved. As for Milner and Fair Manager Dale Woodruff, they announced months ago this would be the last fair for them both.
“We will both be voluntarily stepping down upon transition to county ownership. After all bills are paid, we look forward to working with the BOCC to ensure a smooth transition to their ownership and we wish them and the citizens of Bradford County much success with all events at the fairgrounds,” Milner said.
At the county meeting, Kornegay suggested a management plan could be developed for presentation at the commission’s March 4 meeting. There was a call for a slower approach.
Calling for public workshops, citizen Brad Thomas told the commission, “We get one chance of making this right.”
Thomas asked that those who have worked hard for youth and the community and have experience with how these things work have a role in charting the future.
“If we’re going to use the county’s money, the taxpayers’ money — and I believe that’s in support, the taxpayers want to see it done — let’s make sure we do it the right way, and let’s involve the community,” he said.
There have been comments in the past and at this meeting about BFA’s alleged mismanagement, but Milner rejected that in the association’s press release.
“It has been well publicized that the only reason the BFA found itself in the financial situation it did was because the state of Florida never came through with their previously promised $1.5 million for the arena built in 2018. The BFA would be fully solvent and have no debt but for the failure by the state,” he said.
He also said that since news broke of a pending foreclosure, there were multiple offers to purchase the debt, with several offering additional money on top of the buyout.
“However, the BFA insisted from day one that any new ownership must ensure the continuation of the annual swine and cattle show and sale. This was and is our number one priority and the reason we obtained a $3 million grant in 2023 to build the three new barns. Although promises were made by some potential buyers of the note, the fact is that they could relent and not allow the agricultural fair each year and could later sell the property and buildings for considerably more than they paid for them. These possibilities made such an arrangement a non-starter for the BFA.”
