BUSINESS FINANCE AUTHORITY NOTICE AND AGENDA
The regular meeting of the Board of Directors is scheduled for
Monday, January 9, 2023, at 2:00PM, 135 N. State St, Concord, New Hampshire.
- Introduction of Board Members.
- Approval of Board of Director Minutes and Nonpublic Minutes for the Meeting of November 21, 2022.
- Nonpublic Session for Consideration of Loans, as applicable.
- Approval of Loan Items and Associated Resolutions as applicable.
- Election of Officers for Board in accordance with BFA By-Laws (Clerk, Senior Credit Officer, and Chief Financial Officer).
- Public Hearing for Assignment of $179,422,500 for 2023 Tax exempt Bond Capacity under RSA 162-M.
- To establish categories for the 2023 Tax exempt Bond Capacity.
- To consider approving transferring $167,557,500 in Private Activity Bond Volume Cap for the calendar year 2022 to New Hampshire Housing Finance Authority and adopting the resolution hereto.
- Public Hearing for use and allocation of available $115,000,000 Contingent Credit Limit among uses authorized by RSA 162-A.
- To establish category limits in accordance with RSA 162-A:22, Unified Contingent Credit Limit.
- Financial Reports– Chris Kreidermacher.
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- Month End November 2022
- Month End December 2022
12. Lending Reports – Jeremy Stanizzi.
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- CAP Monthly – November & December
- CAP Statistics/Demographics – November & December
- Capacity Report – November and December
13. Executive Director’s Report.
14. Other Business.
BFA BOARD OF DIRECTOR’S MINUTES
The meeting of the Board of Directors of the Business Finance Authority (“BFA”) was called to order at 2:03 p.m. at 135 N. State Street, Concord, New Hampshire. The following Directors were present:
Dick Anagnost, Stephen Duprey, Nancy Merrill, Monica Mezzapelle, Daniel Henderson, Catherine Provencher, Jeffrey Hayes and Matthew Benson. Also present were: James Key-Wallace, Executive Director and Clerk; Jeremy Stanizzi, Senior Credit Officer, Chris Kreidermacher, Chief Financial Officer, Jeff Cook, Credit Analyst, Deb Intonti, Executive Assistant, John Stoker, National Finance Authority, Lee McCormack, National Finance Authority Representative Michael Edgar, and Attorney Antonio Martini, Hinkley Allen. Absent were Director Jason Syversen, Director Charles Withee, and Representative Laurie Sanborn.
Chairman Anagnost announced the meeting was open to the public and welcomed all present.
The Chairman asked for approval of the public and non-public minutes for the November 21, 2022 Board meeting.
Upon motion made by Director Provencher and seconded by Director Mezzapelle, the following action was voted on:
VOTED: To accept the public and nonpublic minutes of the November 21, 2022.
The following named Directors voted:
Aye: Dick Anagnost, Nancy Merrill, Daniel Henderson, Monica Mezzapelle, Stephen Duprey Catherine Provencher, Jeff Hayes.
Nay: None.
Abstain: Matthew Benson
Whereupon the Chairman declared said resolution adopted.
The Chairman asked the Board for approval of Election of Officers in accordance with BFA by-laws (Clerk, Senior Credit Officer, and Chief Financial Officer).
Upon a motion made by Director Provencher and seconded by Director Hayes the following action was voted on:
VOTED: To accept the Election of Officers in accordance with BFA by-laws (Clerk, Senior Credit Officer, and Chief Financial Officer).
James Key-Wallace Clerk
Jeremy Stanizzi Senior Credit Officer
Chris Kreidermacher Chief Financial Officer
The following named Directors voted:
Aye: Dick Anagnost, Nancy Merrill, Daniel Henderson, Monica Mezzapelle, Stephen Duprey Catherine Provencher, Jeff Hayes, Matthew Benson.
Nay: None.
Abstain: None
Whereupon the Chairman declared said resolution adopted.
Public Hearing #1 Opened at 2:05 p.m.
The Chairman asked for a motion to enter a Public Hearing for the Assignment of $179,422,500 for 2023 Tax exempt Bond Capacity and to establish categories under RSA 162-M.
Upon a motion made by Director Duprey and seconded by Director Mezzapelle the following action was voted on:
VOTED: Assignment of $179,422,500 for 2023 Tax exempt Bond Capacity, and to establish the following Tax-exempt Bond Capacity categories under RSA 162-M
Industrial: $ 20,000,000
Solid Waste: $195,000,000
Water: $147,249,064
Sewer: $133,385,000
Reserve: $ 422,500
The following named Directors voted:
Aye: Dick Anagnost, Nancy Merrill, Daniel Henderson, Monica Mezzapelle, Stephen Duprey Catherine Provencher, Jeff Hayes, Matthew Benson.
Nay: None.
Abstain: None
No one from the public spoke.
Whereupon the Chairman declared said resolution adopted.
Public Hearing #1 closed at 2:12 p.m.
The Chairman asked the Board to consider approval of transferring $167,557,500 in Private Activity Bond Volume Cap for the calendar year 2022 to New Hampshire Housing Finance Authority and adopting the resolution hereto.
Upon a motion made by Director Hayes and seconded by Director Provencher the following action was voted on:
VOTED: To consider approval of transferring $167,557,500 in Private Activity Bond Volume Cap for the calendar year 2022 to New Hampshire Housing Finance Authority and adopting the resolution hereto.
The following named Directors voted:
Aye: Dick Anagnost, Nancy Merrill, Daniel Henderson, Monica Mezzapelle, Stephen Duprey Catherine Provencher, Jeff Hayes, Matthew Benson.
Nay: None.
Abstain: None
Whereupon the Chairman declared said resolution adopted.
Public Hearing #2 Opened at 2:13 p.m.
The Chairman asked the Board to enter a Public Hearing for use and allocation of available $115,000,000 Contingent Credit Limit among uses authorized by RSA 162-A and establish category limits in accordance with RSA 162-A:22 Unified Contingent Credit Limits.
Upon a motion made by Director Hayes and seconded by Director Mezzapelle the following action was voted on:
VOTED: Use and allocation of available $115,000,000 Contingent Credit Limit among uses authorized by RSA 162-A and establish category limits in accordance with RSA 162-A:22 Unified Contingent Credit Limits as follows:
Guarantee Asset Program $ 5,236,182
Guarantee of Industrial Development Bonds $32,948,500
Working Capital Loan Guarantee $ 2,187,500
The following named Directors voted:
Aye: Dick Anagnost, Nancy Merrill, Daniel Henderson, Monica Mezzapelle, Stephen Duprey Catherine Provencher, Jeff Hayes, Matthew Benson.
Nay: None.
Abstain: None
No one from the public spoke.
Public Hearing #2 Closed at 2:23 p.m.
Whereupon the Chairman declared said resolution adopted.
The Chairman asked Mr. Kreidermacher to review the month end Financial Reports for November and December 2022.
The Chairman asked Mr. Stanizzi to review the Lending Reports for November and December 2022.
The Chairman asked Mr. Key-Wallace to present the Executive Director’s Report.
There being no further business and upon motion made by Director Hayes and seconded by
Director Duprey, the meeting was adjourned at 2:54 p.m.
Respectfully submitted:
James Key-Wallace
Clerk