Agenda
The regular meeting of the Board of Directors is scheduled for Monday, July 19, 2021 at 2:00 p.m., 2 Pillsbury Street, The Pillsbury Room, Concord, New Hampshire.
- Introduction of Board Members.
- Approval of Minutes for the Board Meeting of June 21, 2021.
- Approval of items from Credit Committee, as applicable.
- To consider approving the issue of up to $13,505,000 in state guaranteed taxable financing under RSA 162-I to finance a project for The City of Manchester, Department of Aviation and to take all necessary action in relation thereto and to recommend to Governor and Council that they take favorable action under RSA 162-I:9.
- To consider providing preliminary official intent, with no reservation, to issue a tax-exempt revenue bond for Portsmouth Christian Academy of up to $11,500,000.
- To consider approving the issue of up to $11,500,000 in tax-exempt financing under RSA 162-I to finance a project Portsmouth Christian Academy and to take all necessary action in relation thereto and to recommend to Governor and Council that they take favorable action under RSA 162 I:9.
- To consider approving the adoption of the Post Bond Issuance Compliance Policy Update.
- Month End Financial Reports
- Lending Reports for June
- CAP Monthly Loan Report
- CAP Statistics/Demographics
- Capacity Report
- Executive Director’s Report.
- Nonpublic Session.
- Other Business.
Minutes
The meeting of the Board of Directors of the Business Finance Authority (“BFA”) was called to order at 2:43 p.m. at 2 Pillsbury Street, The Pillsbury Room, Concord, New Hampshire. The following Directors were present: Dick Anagnost, Catherine Provencher, Daniel Henderson, Charles Withee, Matthew Benson, Monica Mezzapelle, Jeffrey Hayes, Jason Syversen, and Nancy Merrill. Also present were: Senator Bob Giuda, Senator Gary Daniels, Representative Michael Edgar, James Key-Wallace, Executive Director and Clerk; Chris Kreidermacher, Chief Financial Officer; Jeremy Stanizzi, Senior Credit Officer; Jeff Cook, Credit Analyst; Meagen Kerris, Administrative Assistant; John Stoecker, National Finance Authority; Kris Moussette, Hinckley Allen & Snyder. Absent were: Director Stephen Duprey, Representative Laurie Sanborn.
The Chairman announced the meeting was open to the public and welcomed all who were present
The Chairman asked for approval of the minutes for June 21, 2021 Board Meeting.
Upon motion made by Director Withee and seconded by Director Hayes, the following action was approved:
VOTED: To accept the minutes of the June 21, 2021 Board Meeting.
The following named directors voted:
- Aye: Dick Anagnost, Nancy Merrill, Monica Mezzapelle, Jeffrey Hayes, Charles Withee, Matthew Benson, Daniel Henderson, and Jason Syversen.
- Nay: None.
- Abstain: Catherine Provencher.
Whereupon the Chairman declared said resolution adopted.
The Chairman asked the Board to consider approving preliminary official intent, with no reservation, to issue a tax-exempt revenue bond for Portsmouth Christian Academy of up to $11,500,000.
Upon motion made by Director Withee and seconded by Director Hayes, the following action was voted on:
VOTED: To approve preliminary official intent, with no reservation, to issue a tax-exempt revenue bond for Portsmouth Christian Academy of up to $11,500,000.
The following named directors voted:
- Aye: Dick Anagnost, Nancy Merrill, Monica Mezzapelle, Catherine Provencher, Jeffrey Hayes, Charles Withee, Daniel Henderson, Matthew Benson, and Jason Syversen.
- Nay: None.
- Abstain: None.
Where upon the Chairman declared said resolution adopted.
The Chairman asked the Board to consider approving the issue of up to $11,500,000 in tax-exempt financing under RSA 162-I to finance a project for Portsmouth Christian Academy and to take all necessary action in relation thereto and to recommend to Governor and Council that they take favorable action under RSA 162-I:9.
Upon motion made by Director Withee and seconded by Director Hayes, the following action was voted on:
VOTED: To approve the issue of up to $11,500,000 in tax-exempt financing under RSA 162-I to finance a project for Portsmouth Christian Academy and to take all necessary action in relation thereto and to recommend to Governor and Council that they take favorable action under RSA 162-I:9.
The following named directors voted:
- Aye: Dick Anagnost, Nancy Merrill, Monica Mezzapelle, Catherine Provencher, Jeffrey Hayes, Charles Withee, Daniel Henderson, Matthew Benson, and Jason Syversen.
- Nay: None.
- Abstain: None.
Where upon the Chairman declared said resolution adopted.
The Chairman asked the Board to consider the Resolution for a Request for a Collateral Shortfall Loan to Northeast Nonwovens, Inc in the amount of $500,000.
Upon motion made by Director Withee and seconded by Director Hayes, the following action was voted on:
VOTED: To approve the Resolution for a Request for a Collateral Shortfall Loan to Northeast Nonwovens, Inc in the amount of $500,000.
The following named directors voted:
- Aye: Dick Anagnost, Nancy Merrill, Monica Mezzapelle, Catherine Provencher, Jeffrey Hayes, Charles Withee, Daniel Henderson, Matthew Benson, and Jason Syversen.
- Nay: None.
- Abstain: None.
Where upon the Chairman declared said resolution adopted.
The Chairman asked the Board to consider a State Guaranteed taxable bond in the amount of $13,505,000 for the City of Manchester, Department of Aviation.
Upon motion made by Director Syversen and seconded by Director Hayes, the following action was voted on:
VOTED: To approve the Resolution for a State Guaranteed taxable bond in the amount of $13,505,000 for the City of Manchester, Department of Aviation.
The following named directors voted:
- Aye: Dick Anagnost, Nancy Merrill, Monica Mezzapelle, Catherine Provencher, Jeffrey Hayes, Charles Withee, Daniel Henderson, Matthew Benson, and Jason Syversen.
- Nay: None.
- Abstain: None.
Where upon the Chairman declared said resolution adopted.
The Chairman asked the Board to consider approving the adoption of the Post Bond Issuance Compliance Policy Update.
Upon motion made by Director Provencher and seconded by Director Mezzapelle, the following action was voted on:
VOTED: To approve the adoption of the Post Bond Issuance Compliance Policy Update.
The following named directors voted:
- Aye: Dick Anagnost, Nancy Merrill, Monica Mezzapelle, Catherine Provencher, Jeffrey Hayes, Charles Withee, Daniel Henderson, Matthew Benson, and Jason Syversen.
- Nay: None.
- Abstain: None.
Where upon the Chairman declared said resolution adopted.
The Chairman asked Mr. Kreidermacher to review the month end financial report.
The Chairman asked Mr. Stanizzi to review Lending Reports.
The Chairman asked Mr. Key-Wallace to present the Director’s Report.
There being no further business and upon motion made by Director Withee and seconded by Director Hayes, the meeting was adjourned at 3:16 p.m.
Respectfully submitted:
James Key-Wallace
Clerk