Cook the Lima beans in salted water per the package directions. Drain and set aside. (Reserve 1 cup cooking liquid)
In a large skillet cook the bacon slices over medium-high until crisp. Remove to paper towels to drain then chop. Reserve 3 Tbsp drippings freeze the rest.
In the drippings cook the onion and red pepper over medium-high for 2 minutes or until translucent and beginning to brown. Add garlic, cook for 1 minute longer.
To the skillet add the Lima beans, corn, cherry tomatoes, vinegar, tarragon, seasoned salt, black pepper, and reserved cooking liquid. Simmer over medium heat for 5 minutes or until the corn is tender.
Add butter and stir until melted. Remove from heat.
Mix-in chopped bacon and chives, serve immediately.