BUSINESS FINANCE AUTHORITY NOTICE AND AGENDA
The regular meeting of the Board of Directors is scheduled for
Monday, January 8, 2024, 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 December 18, 2023.
- 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 $189,115,000 in 2024 Tax exempt Bond Capacity under RSA 162-M.
- To establish categories for the 2024 Tax exempt Bond Capacity.
- Public Hearing for use and allocation of available $200,000,000 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.
- Month End December 2023
- Lending Reports – Jeremy Stanizzi.
- CAP Monthly –
- CAP Statistics/Demographics –
- Capacity Report –
- Executive Director’s Report.
- Other Business.
Dated and priority mailed: January 4, 2024
BFA BOARD OF DIRECTOR’S MINUTES
The meeting of the Board of Directors of the Business Finance Authority (“BFA”) was called to order at 2:02 p.m. at 135 N. State Street, Concord, New Hampshire. The following Directors were present:
Dick Anagnost, Stephen Duprey, Monica Mezzapelle, Daniel Henderson, Catherine Provencher, Jeffrey Hayes, Vikram Mansharamani, and Matthew Benson. Also present were: James Key-Wallace, Executive Director and Clerk; Jeremy Stanizzi, Senior Credit Officer, Jeff Cook, Credit Analyst, Deb Intonti, Executive Assistant, Ben Barker, National Finance Authority, John Stoecker, National Finance Authority Representative Michael Edgar, Senator Lou D’Allesandro and Attorney Kris Moussette, Hinkley Allen. Absent were: Chris Kreidermacher, Chief Financial Officer, Director Jason Syversen, Senator Keith Murphy 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 for the December 18, 2023 Board meeting.
Upon motion made by Director Duprey and seconded by Director Mezzapelle, the following action was voted on:
VOTED: To accept the public minutes of the December 18, 2023.
The following named Directors voted:
Aye: Dick Anagnost, Stephen Duprey, Monica Mezzapelle, Daniel Henderson, Catherine Provencher, Jeffrey Hayes, Vikram Mansharamani, and Matthew Benson
Nay: None.
Abstain: None.
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 Henderson and seconded by Director Mezzapelle 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, Stephen Duprey, Monica Mezzapelle, Daniel Henderson, Catherine Provencher, Jeffrey Hayes, Vikram Mansharamani, and Matthew Benson
Nay: None.
Abstain: None.
Whereupon the Chairman declared said resolution adopted.
Public Hearing #1 Opened at 2:04 p.m.
The Chairman asked for a motion to enter a Public Hearing for the Assignment of $189,115,000 for 2024 Tax exempt Bond Capacity and to establish categories under RSA 162-M.
The Chairman asked if we had any members of the public present. Ben Barker and John Stoecker of the NFA were attending the meeting.
The Chairman asked if anyone from the public had any comments, no comments.
Upon a motion made by Director Duprey and seconded by Director Hayes the following action was voted on:
VOTED: Assignment of $189,115,000 for 2024 Tax exempt Bond Capacity, and to establish the following Tax-exempt Bond Capacity categories under RSA 162-M
Industrial: $ 30,000,000
Solid Waste: $ 35,000,000
Water: $ 50,000,000
Sewer: $ 70,000,000
Reserve: $ 4,115,000
The following named Directors voted:
Aye: Dick Anagnost, Stephen Duprey, Monica Mezzapelle, Daniel Henderson, Catherine Provencher, Jeffrey Hayes, Vikram Mansharamani, and Matthew Benson
Nay: None.
Abstain: None.
Whereupon the Chairman declared said resolution adopted.
Public Hearing #1 closed at 2:09 p.m.
Public Hearing #2 Opened at 2:10 p.m.
The Chairman asked the Board to enter a Public Hearing for use and allocation of available $200,000,000 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.
The Chairman asked if we had any members of the public present. Ben Barker and John Stoecker of the NFA were attending the meeting.
The Chairman asked if anyone from the public had any comments, no comments.
Upon a motion made by Director Duprey and seconded by Director Hayes the following action was voted on:
VOTED: Use and allocation of available $200,000,000 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 $ 10,000,000
Guarantee of Industrial Development Bonds $167,000,000
State Guarantee of BFA Bonds $ 20,000,000
Working Capital Loan Guarantee $ 3,000,000
The following named Directors voted:
Aye: Dick Anagnost, Stephen Duprey, Monica Mezzapelle, Daniel Henderson, Catherine Provencher, Jeffrey Hayes, Vikram Mansharamani, and Matthew Benson
Nay: None.
Abstain: None.
Public Hearing #2 Closed at 2:12 p.m.
Whereupon the Chairman declared said resolution adopted.
The Chairman asked Mr. Key-Wallace to review the month end Financial Reports for December 2023.
The Chairman asked Mr. Stanizzi to review the Lending Reports for December 2023.
The Chairman asked Mr. Key-Wallace to present the Executive Director’s Report.
There being no further business and upon motion made by Director Provencher and seconded by Director Duprey, the meeting was adjourned at 2:19 p.m.
Respectfully submitted:
James Key-Wallace
Clerk