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Bradford County commissioners approve payoff of promissory note to prevent fairgrounds foreclosure
Summary
The Bradford County Board of County Commissioners voted 5-0 to authorize the county manager to move forward with paying the promissory note held by Jim Gissy that encumbers the Bradford County Fairgrounds; officials said closing could occur this Friday and that operational decisions will follow at a later meeting.
The Bradford County Board of County Commissioners voted 5-0 on Feb. 24 to authorize the county manager to move forward with paying the promissory note held by Jim Gissy that obligates the Bradford County Fairgrounds, a move officials said is intended to prevent immediate foreclosure and secure the property.
County Manager said the county had spoken with the lienholder and his attorney and that the county’s attorney, Mr. Commando, and the lienholder’s attorney were working out payoff language; the manager also said the county could anticipate a closing date of this coming Friday. "...I spoke with the lienholder, Mister Gissy... [he] put me in touch with his attorney and... the 2 of them are working out the details as far as the language for the payoff," the County Manager said.
The vote followed public comment and a motion by Commissioner Andrew to allow the county manager to complete the payoff process. The motion was seconded (speaker not identified in the record) and carried 5-0.
Why it matters: Commissioners and speakers said paying the note would secure the fairgrounds from an immediate sale and preserve the property for county control, but operational and governance questions remain. Resident Vyanda Strong urged removing the current fair association board if the county uses public funds to purchase the loan, saying, "The very first thing that they should do is replace the board. The board has proven that they cannot handle the finances." Brad Thomas of Lawley recommended that the county hold workshops and involve community members who currently run fair operations before finalizing governance decisions.
Financial and legal details discussed: County officials described the loan terms discussed in the meeting as roughly $13,000 a month at an 8.5% interest rate over 30 years. Chief Financial Officer Miss Lofolick reported available reserves, saying, "We currently have 12,000,000 in reserve for contingency. Well, 5,000,000 is reserved and 7,000,000 is in the emergency fund," and confirmed the county has funds available to proceed.
County Manager said that if the fair association does not sign the deed over after the note is paid, the county would likely proceed with foreclosure and eviction to secure the property. The board limited the immediate action to paying the note; Commissioners and staff agreed that operational details — including how to select a governing board, whether to hire a fair manager, and day-to-day operations — would be addressed separately. The County Manager said he anticipates presenting a plan addressing organization, recruitment of board members and possible hiring of a fair manager for discussion at the March 4 meeting.
Votes at a glance: Motion to allow the county manager to move forward with paying off the promissory note held by Jim Gissy that obligates the Bradford County Fairgrounds — mover: Commissioner Andrew; second: not specified in transcript; vote: 5 in favor, 0 opposed; outcome: approved.
Next steps: County staff will finalize payoff paperwork with the lienholder’s attorney and the county attorney, pursue a closing (anticipated Friday), and bring an operational/organizational plan for the fairgrounds to the board for discussion at the March 4 meeting.
