Chapter 16 #2
Bill was quiet for a moment, staring at his computer screen.
When he spoke, his voice was lower and more careful.
“Independent expert verification would help. Updated safety certifications, environmental impact assessment from a licensed engineer, all of which take time and money. And you know as well as I do that even without documentation, the formal hearing process has minimum time frames built in. We’re looking at six weeks minimum, more than likely two to three months. ”
“Or?” Thomas heard the agitation in Bill’s voice.
“Or,” Bill looked up, meeting Thomas’s eyes directly, “a letter of assurance from a recognized island historical expert—someone whose professional reputation the review board trusts implicitly, someone who could personally vouch for the project’s adherence to preservation standards and safety requirements.
It would carry significant weight with the board and could potentially allow us to expedite the review considerably. ”
Understanding settled in Thomas’s stomach. “You’re talking about me.”
“If you were willing to formally vouch for the historical accuracy and the safety of the renovation - stake your professional reputation on it - that would address most of the concerns. It wouldn’t eliminate a hearing entirely, but it could shorten the process to just a few weeks instead of months. ”
“And what if something goes wrong? If there are problems down the line that the complaints were supposedly warning about?”
Bill’s expression was sympathetic, but firm.
“Well, then your reputation is on the line, along with the property owner’s.
You’d be personally vouching for the work, Thomas.
It’s not a decision to make lightly. If legitimate issues do come up later - like structural problems, environmental damage - well, you’d be implicated as the expert who told everyone it was fine.
You could be looking at legal problems if it got bad enough. ”
Thomas thought about the inn, about the months of work, about every decision documented and every modification approved.
He thought about Isabella’s voice when she had called him yesterday, the fear beneath her composed exterior.
He thought about Grayson Williams and his smug certainty that he could destroy this project using bureaucratic harassment.
“Draft the letter,” Thomas said. “I’ll sign it. But draft it today. I’ll come back this afternoon to sign it.”
Bill looked at him for a long moment. “You sure are putting a lot on the line for a client.”
“She’s not just a client.” The words came out more revealing than Thomas meant, but he didn’t take them back.
Something changed in Bill’s expression, an understanding. “All right. I’ll have it ready by two o’clock.”
* * *
Gerald Stewart looked uncomfortable when Thomas asked for a private meeting.
They had known each other even longer than Thomas had known Bill.
Gerald’s father and Thomas’s father had been friends.
They fished together and sat on the church board before the Old Island Church was destroyed by the hurricane of ’89.
Thomas and Gerald grew up swimming in the same creeks, dating girls from the same high school, and building their businesses in parallel as they both settled into adult lives on the island they loved.
But now Gerald sat behind his polished desk in the corner office with its view of the marina, his ruddy face creased with concern, his banker’s caution warring with decades of friendship.
“Thomas, I cannot discuss a client’s financial details. You know that. There are privacy regulations and fiduciary responsibility.”
“Gerald, we both know Grayson Williams is trying to sabotage Isabella’s project. All those anonymous complaints to the county are designed to trigger concerns about loan viability, and I need to know what her actual exposure is so I can help her get through this without destroying her financially.”
Gerald was quiet for a long moment, his fingers drumming on the desk.
“The renovation loan has milestone-based funding with strict timeline requirements,” Gerald finally said, keeping his voice low.
“If the inn doesn’t open by December 31st, doesn’t start generating actual revenue as projected, then technically the bank has the right to call the loan entirely or significantly change the terms. I mean, we’re talking about interest rate hikes that could make the project completely unviable.
Isabella’s personal guarantee covers any shortfall between the property value and the outstanding loan amount. ”
Thomas felt like ice was coursing through his veins. “Which means if Grayson succeeds in delaying the opening past the deadline, she doesn’t just lose her business, she loses everything. Her retirement savings, her investment, and maybe her personal assets.”
“Well, that’s the worst-case scenario, but yes,” Gerald said, looking pained.
“Thomas, I like Isabella a lot. She’s smart, though.
She’s doing everything right. But the bank has obligations to our investors, our regulatory oversight, and if a property faces community opposition, if there are questions about permit compliance or anything else, if the timeline slips significantly… well, we have to protect our position.”
“What would it take to waive those timeline requirements, to give her more flexibility if the delays happen through no fault of her own?”
Gerald’s expression shifted. “A co-signer with sufficient assets and established local ties. Somebody that the bank trusts to ensure the project will be completed, even with setbacks. Somebody whose own reputation and financial stability would also be at stake.”
The implication was clear. Thomas felt the trap closing. Saw exactly where this was headed, but Isabella’s terrified voice on the phone—I’d lose everything—echoed in his mind.
“What are we talking about in terms of exposure?”
“Roughly $350,000 if the loan were called at the current balance. Less if the property sells quickly, more if it doesn’t, or if delays cause more deterioration. But Thomas, you’d be personally liable for—”
“I understand what I’d be liable for.” His voice was steady, even though his gut was churning.
$350,000. It was more than he had in liquid assets, but his business was solid. His properties were paid off. His reputation would support additional credit if needed. He could cover it. It would hurt. He might require selling assets he’d planned to leave to Emma, but he could do it.
“Draft the paperwork, Gerald. I’ll co-sign her loan.”
“Thomas…” Gerald leaned forward, his expression pleading.
“Think about this carefully. You’re betting everything - your business, your savings, your financial security, Emma’s future - on a project you don’t even control, on an uncertain timeline, in support of somebody you’ve known for what, a few months?
Look, I understand you’re…whatever…involved with Isabella, but mixing personal feelings with finances this significant—”
“I’m not mixing anything. This is good business. The inn is sound, the renovation is top quality, and the only risk is this bureaucratic harassment from a developer with a grudge. Once we get past Grayson’s complaints, the project will succeed.”
“But if it doesn’t—”
“It will.” Thomas stood, the decision made. “Draft the paperwork. I’ll come by tomorrow morning to sign it.”
Gerald watched him with an expression that looked like a mixture of admiration and concern. “And you’re sure about this?”
“Totally.” Thomas met his old friend’s eyes. “Need anything else from me?”
“Just your sanity,” Gerald muttered, “but apparently you’ve already lost that.”