(Editor’s note: We asked the Bradford Fair Association would be willing to share an update on its financial status, and they provided the following release.)
The Bradford Fair Association has announced that their recently publicized financial condition has been rectified due to the generosity of former Starke businessman Jim Gissy.
In 2018, the BFA received a $1.5 million loan to complete the 10,000-square-foot arena, which was hardened to meet state hurricane codes. The state of Florida provided an initial $1.5 million grant with another $1.5 million planned for the second year.
However, after experiencing back-to-back statewide emergencies, the state never provided the additional $1.5 million. With limited means of income and rising interest rates, the fair association was unable to meet the payments as required by Community State Bank (now DLP Bank).
The Bradford County Commission held two special meetings expressing a desire to purchase the note from the Community State Bank, perhaps to avoid foreclosure, which would have eventually given the county title to the entire BFA property, valued at more than $7 million.
Now a successful real estate investor and owner of several businesses in central Florida, Jim Gissy, offered to buy the loan note from Community State Bank and his offer was accepted.
Bradford Fair Association President Bob Milner said although the family has been gone from the area for many years, Mr. Gissy and his six brothers and sisters still have very strong ties and fond memories of their upbringings in Starke. All seven children of Joe and Mary Gissy graduated from Bradford High School and have gone on to successful careers.
“The BFA is eternally grateful for the generosity of Mr. Gissy, and this is evidence of his continued love for the way his parents raised him and his siblings in Bradford County,” said Milner.
Jim Gissy is the son of long time Starke residents Joe and Mary Gissy. Joe retired from the Container Corporation and Mary retired after 37 years working for Bradford Middle School. After retiring from Bradford County, they lived out their remaining years in the Dunnellon/Rainbow Springs area.
Milner said the fair association is focused on obtaining the remaining $1.5 million from the state of Florida, but for now, all efforts are concentrated on having the biggest and best fair ever in 2024.
Three new barns have been completed due to a $3 million grant from the Department of Agriculture, and the BFA continues to make improvements to the midway and buildings.
“We are in the process of confirming several shows separate from the expanded midway rides along with local entertainment and a special food truck night, giving exciting options for fairgoers,” Milner added.
Negotiations are under way to have events at the fairgrounds every month in 2024 including barbeque contests, remote controlled car racing, a Hawaiian-themed evening and numerous musical acts. New fair association board member Michael Heeder is planning a four-day event to celebrate the country’s independence around the 4th of July.
The future of the BFA and the fairgrounds property is to hold as many communitywide entertainment events as possible in addition to the annual fair and swine and livestock sale held in March.
“The future of the Bradford Fair Association and the fairgrounds property is exciting for our community, and we owe much of that to the generosity of Jim Gissy,” said Milner.
