BUSINESS FINANCE AUTHORITY NOTICE AND AGENDA
The regular meeting of the Board of Directors is scheduled for Monday, June 17, 2024, at 1:30PM, 135 N. State St, Concord, New Hampshire.
- Introduction of Board Members.
2. Approval of Board of Directors Public Minutes for the Meeting of April 15, 2024.
3. Nonpublic Session for Consideration of Loans, as applicable.
4. Approval of Loan Items and Associated Resolutions as applicable.
5. To consider approving transferring $40,000,000 in Private Activity Bond Volume Cap for the calendar year 2024 to
New Hampshire Health and Education Facilities Authority and adopting the resolution hereto.
6. Financial Reports– Chris Kreidermacher.
Month End April/May 2024
FY 2025 Budget Review
7. April/May Lending Reports – Jeremy Stanizzi.
CAP Monthly (April/May)
CAP Statistics/Demographics (May)
CAP Quarterly (March)
Capacity & Lending Report (May)
CAP Loss Summary – Reel Deal Deli. LLC
8. Executive Director’s Report.
9. Other Business.
Dated and mailed: June 13, 2024
BFA BOARD OF DIRECTORS MINUTES Business Finance Authority June 17, 2024
The meeting of the Board of Directors of the Business Finance Authority (“BFA”) was called to order at 1:33 P.M. at 135 N. State Street, Concord, New Hampshire. The following Directors were present:
Matthew Benson, Stephen Duprey, Jeff Hayes, Jason Syversen, Vikram Mansharamani, Monica Mezzapelle. 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 Stoecker National Finance Authority; Representative Murphy, and Senator D’Allesandro.
The following Members were absent:
Director Dick Anagnost, Director Catherine Provencher, Director Daniel Henderson and Representative Laurie Sanborn.
Vice Chairman Duprey announced the meeting was open to the public and welcomed all present.
The Vice Chairman asked for approval of the minutes for the April 15, 2024, Board Meeting.
Upon motion made by Director Mezzapelle and seconded by Director Mansharamani the following action was voted on:
VOTED: To accept the minutes of the April 15, 2024, Board Meeting.
The following named Directors voted:
Aye: Stephen Duprey, Matt Benson, Jeff Hayes, Jason Syversen, Vikram Mansharamani, Monica Mezzapelle.
Nay: None
Abstain: None
Whereupon the Vice Chairman declared said Board Minutes adopted.
New Hampshire Health and Education Facilities Authority:
The Vice Chairman asked the Board to consider an approval to transferring $40,000,000 in Private Activity Bond Volume Cap for the calendar year 2024 to New Hampshire Health and Education Facilities Authority and adopting the resolution hereto.
Upon motion made by Director Mezzapelle and seconded by Director Mansharamani, the following action was voted on:
VOTED: To transfer $40,000,000 in Private Activity Bond Volume Cap for the calendar year 2024 to New Hampshire Health and Education Facilities Authority and adopt the resolution hereto.
The following named Directors voted:
Aye: Stephen Duprey, Matt Benson, Jeff Hayes, Jason Syversen, Vikram Mansharamani, Monica Mezzapelle.
Nay: None
Abstain: None
Board collectively approved moving agenda items 6, 7 and 8 at this time. The board all agreed.
The Vice Chairman asked Mr. Stanizzi to review the Lending Reports.
The Vice Chairman asked Mr. Key-Wallace to present the Executive Director’s Report.
The Vice Chairman asked Mr. Kreidermacher to review the month end Financial Reports.
The Vice Chairman asked Mr. Kreidermacher to review the FY 2025 Budget with the Board and answer any questions.
NONPUBLIC SESSION
At 2:21 p.m. the Board entered into an Executive Nonpublic Session under RSA 91-A:3 II (a) Personnel. The dismissal, promotion, or compensation of any public employee or the disciplining of such employee, or the investigation of any charges against him or her, unless the employee affected (1) has a right to meeting and (2) requests that the meeting be open, in which case the request shall be granted.
Upon motion to go into nonpublic session made by Director Mezzapelle and seconded by Director Mansharamani, the following roll call vote was taken to enter:
Stephen Duprey Yes
Matthew Benson Yes
Vikram Mansharamani Yes
Monica Mezzapelle Yes
Jeffrey Hayes Yes
Jason Syversen Yes
Nay: None
Abstain: None
NHBFA staff exited the nonpublic meeting during this session.
PUBLIC SESSION
At 2:39 p.m. a motion was made to resume the public meeting and NHBFA staff re-entered the meeting. A motion to resume public session was made by Director Mezzapelle and seconded by Director Hayes.
VOTED: To resume public session.
The following named Directors voted:
Aye: Stephen Duprey, Matt Benson, Jeff Hayes, Jason Syversen, Vikram Mansharamani, Monica Mezzapelle.
Nay: None
Abstain: None
The Vice Chairman asked for a vote from the Board to approve the FY 2025 Most Likely Budget for the NHBFA with the following adjustment. To increase the 3% allocated salary raises for staff to 7%.
VOTED: To approve the FY 2025 Most Likely Budget for the NHBFA with adjustment.
The following named Directors voted:
Aye: Stephen Duprey, Matt Benson, Jeff Hayes, Jason Syversen, Vikram Mansharamani, Monica Mezzapelle.
Nay: None
Abstain: None
There being no further business and upon motion made by Director Benson and seconded by
Director Hayes, the meeting was adjourned at 2:41 p.m.
Respectfully submitted:
James Key-Wallace
Clerk