BUSINESS FINANCE AUTHORITY NOTICE AND AGENDA
The regular meeting of the Board of Directors is scheduled for
Monday, April 17, 2023, at 2:00PM, 135 N. State St, Concord, New Hampshire.
- Introduction of Board Members.
- Approval of Board of Director Minutes for the Meeting of March 20, 2023.
- Nonpublic Session for Consideration of Loan and Credits, as applicable.
- Approval of Items and associated Resolutions from Nonpublic Session, as applicable.
- To consider approving the underwriting services agreement between NH BFA and the NH Department of Environmental Services and to authorize the Executive Director to execute said agreement.
- To consider approving transferring $30,000,000 in Private Activity Bond Volume Cap for the calendar year 2023 to New Hampshire Health and Education Facilities Authority and adopting the resolution hereto.
- Financial Reports– Chris Kreidermacher.
- Month End March2023
- Lending Reports – Jeremy Stanizzi.
- CAP Monthly – March 2023
- CAP Statistics/Demographics – March 2023
- Capacity Report – March 2023
- Executive Director’s Report.
- Other Business.
BFA BOARD OF DIRECTORS MINUTES – Business Finance Authority April 17, 2023 Concord, New Hampshire
The meeting of the Board of Directors of the Business Finance Authority (“BFA”) was called to order at 2:02 P.M. at 135 N. State Street, Concord, New Hampshire. The following Directors were present:
Dick Anagnost, Matthew Benson, Stephen Duprey, Daniel Henderson, Nancy Merrill, Catherine Provencher, Jason Syversen (arrived at 2:08 p.m.), Jeff Hayes Also present were: James Key-Wallace, Executive Director and Clerk; Jeremy Stanizzi, Senior Credit Officer; Chris Kreidermacher, Chief Financial Officer; Jeff Cook, Credit Analyst; John Stoker, National Finance Authority; Kris Moussette, Hinkley Allen; and Representative Michael Edgar.
Absent were: Representative Laurie Sanborn, Director Monica Mezzapelle and Director Charles Withee.
Chairman Anagnost announced the meeting was open to the public and welcomed all present.
The Chairman asked for approval of the minutes for the March 20, 2023, Board Meeting.
Upon motion made by Director Duprey and seconded by Director Provencher the following action was voted on:
VOTED: To accept the minutes of the March 20, 2023, Board Meeting.
The following named Directors voted:
Aye: Dick Anagnost, Matthew Benson, Stephen Duprey, Nancy Merrill, Catherine Provencher, and Jeff Hayes.
Nay: None
Abstain: Director Henderson
Whereupon the Chairman declared said resolution adopted.
At 2:03 p.m., the Chairman asked the Board to consider a nonpublic session. The purpose of the nonpublic session was for the following reason:
Consideration of applications by the Business Finance Authority under RSA 162-A:7-10 and RSA 162-A:13, where consideration of confidential, commercial, or financial information that is exempt from public disclosure; and matters which if discussed in public, would likely affect adversely the reputation of any person, other than a member of the public body itself.
Upon motion to go into nonpublic session made by Director Duprey and seconded by Director Henderson, the following roll call vote was taken to enter:
Aye: Dick Anagnost, Matthew Benson, Stephen Duprey, Nancy Merrill, Catherine Provencher, and Jeff Hayes.
Nay: None
Abstain: None.
Following a vote of the Board to enter into a nonpublic session, the minutes of the nonpublic session are hereby recorded.
At 2:50 p.m. the Chairman asked for a motion to return to the public meeting of the Board of Directors and seal the nonpublic minutes.
Upon motion made by Director Duprey, seconded by Director Provencher.
VOTED: To return to the public meeting and seal the nonpublic minutes.
The following named Directors voted:
Aye: Dick Anagnost, Stephen Duprey, Nancy Merrill, Catherine Provencher, Jason Syversen, Matthew Benson and Jeff Hayes.
Nay: None
Abstain: None.
GAP GUARANTEES:
The Chairman stated that the GAP Guarantees discussed in nonpublic were revised.
Upon motion made by Director Duprey and seconded by Director Henderson, the following action was voted on:
VOTED: To approve a 75% Guarantee on up to a $3,037,500 commercial mortgage for Rustic Crust, Inc. & Subsidiaries from Walden Mutual Bank.
VOTED: To approve a 75% Guarantee on up to a $1,093,862.50 equipment/term loan for Rustic Crust, Inc. & Subsidiaries from Walden Mutual Bank. In addition, incorporated a reduction in loan term from the originally proposed ten years to five years.
The following named Directors voted:
Aye: Dick Anagnost, Stephen Duprey, Daniel Henderson, Nancy Merrill, Catherine Provencher, Jason Syversen, and Jeff Hayes.
Nay: None
Abstain: Director Benson.
Whereupon the Chairman declared said resolution adopted.
The Chairman asked for approval of a $750,000 SSBCI LOC under RSA 162-A for Belknap Economic Development Corporation and to take all necessary action in relation thereto.
Upon motion made by Director Duprey and seconded by Director Henderson, the following action was voted on:
VOTED: To approve the issue of a $750,000 SSBCI LOC under RSA 162-A for Belknap Economic Development Corporation and to take all necessary action in relation thereto.
The following named Directors voted:
Aye: Dick Anagnost, Stephen Duprey, Nancy Merrill, Catherine Provencher, Jason Syversen, Matthew Benson and Daniel Henderson.
Nay: None
Abstain: Director Hayes.
The Chairman asked for approval for the underwriting services agreement between NH BFA and the NH Department of Environmental Services and to authorize the Executive Director to execute said agreement and for approval for the resolution to approve the memorandum of agreement for the drinking water and clean water state revolving loan funds (SRF), the per- and polyfluoroalkyl Substances remediation loan fund (PRASRLF), the Brownfield Revolving Loan Fund (RLF) and the Drinking Water and Groundwater Trust Fund (DWGTF) and to have the Executive Director sign the agreement on behalf of the Business Finance Authority
Upon motion made by Director Henderson and seconded by Director Duprey, the following action was voted on:
VOTED: To approve the underwriting services agreement between NH BFA and the NH Department of Environmental Services and to authorize the Executive Director to execute said agreement and for approval for the resolution to approve the memorandum of agreement for the drinking water and clean water state revolving loan funds (SRF), the per- and polyfluoroalkyl Substances remediation loan fund (PRASRLF), the Brownfield Revolving Loan Fund (RLF) and the Drinking Water and Groundwater Trust Fund (DWGTF) and to have the Executive Director sign the agreement on behalf of the Business Finance Authority.
The following named Directors voted:
Aye: Dick Anagnost, Stephen Duprey, Nancy Merrill, Catherine Provencher, Jason Syversen, Matthew Benson, Daniel Henderson and Jeff Hayes
Nay: None
Abstain: None.
The Chairman asked for approval to transferring $30,000,000 in Private Activity Bond Volume Cap for the calendar year 2023 to New Hampshire Health and Education Facilities Authority and adopting the resolution hereto.
Upon motion made by Director Duprey and seconded by Director Henderson, the following action was voted on:
VOTED: To transfer $30,000,000 in Private Activity Bond Volume Cap for the calendar year 2023 to New Hampshire Health and Education Facilities Authority and adopt the resolution hereto.
The following named Directors voted:
Aye: Dick Anagnost, Stephen Duprey, Nancy Merrill, Catherine Provencher, Jason Syversen, Matthew Benson, Daniel Henderson and Jeff Hayes
Nay: None
Abstain: None.
The Chairman asked Mr. Kreidermacher to review the month end Financial Reports.
The Chairman asked Mr. Stanizzi to review the Lending Reports.
The Chairman asked Mr. Key-Wallace to present the Executive Director’s Report.
There being no further business and upon motion made by Director Duprey and seconded by
Director Henderson, the meeting was adjourned at 3:27 p.m.
Respectfully submitted:
James Key-Wallace
Clerk