Bridal/BRIC Capital asks Lee County to renew $200,000 revolving loan; public hearing set decision for Dec. 16

Bridal Capital Community Development Corporation asked the Lee County Board of Commissioners on Dec. 2 to approve a three‑year extension of a $200,000 revolving loan the county made in 2021, and to change the loan interest rate from 3% to 6%. The board held a public hearing but did not take final action; the item is scheduled for the board's Dec. 16 meeting.

At the hearing, the applicant's representative identified himself as Kerry Beshaw and described the organization's housing work, including building 10 single‑family homes from the fund, purchasing two rental units and renovating two other homes. “With the county's funding, this is what we are able to do, and I greatly appreciate the opportunity to create housing opportunities,” Beshaw told commissioners. He said the organization has been making interest‑only payments and is asking only for a renewal of the existing line of credit, not additional principal.

The request in the agenda packet describes the county's revolving loan fund as originating from an earlier Golden Leaf economic development project and…