BUSINESS FINANCE AUTHORITY NOTICE AND AGENDA
The regular meeting of the Board of Directors is scheduled for
Monday, June 19, 2023, at 2:00 PM, 135 N. State St, Concord, New Hampshire.
- Introduction of Board Members.
- Approval of Board of Director Minutes for the Meeting of April 17, 2023.
- Nonpublic Session for Consideration of Loan and Credits, as applicable.
- Approval of Items and associated Resolutions from nonpublic session, as applicable.
- Vote to approve to issue up to $72,500,000 in State Guaranteed Taxable Financing under RSA 162-I to finance a project for New Balance Athletics, Inc., 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
- Financial Reports– Chris Kreidermacher
Month End April 2023
Month End May 2023
FY 2024 Budget
7. Lending Reports – Jeremy Stanizzi
CAP Monthly –April/May 2023
CAP Statistics/Demographics –May 2023
Capacity Report –May 2023
CAP Quarterly Report – March 2023
8. Executive Director’s Report.
9. Other Business.
BFA BOARD OF DIRECTORS MINUTES
The meeting of the Board of Directors of the Business Finance Authority (“BFA”) was called to order at 2:27 P.M. by Vice Chairman Duprey at 135 N. State Street, Concord, New Hampshire. The following Directors were present:
Matthew Benson, Stephen Duprey, Nancy Merrill, Jason Syversen, Jeff Hayes, Monica Mezzapelle, and Charles Withee. 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; Senator Lou D’Alessandro and Representative Edgar.
Absent were: Senator Keith Murphy, Representative Laurie Sanborn, Director Catherine Provencher, Director Daniel Henderson and Director Dick Anagnost.
Vice Chairman Duprey announced the meeting was open to the public and welcomed all present.
The Vice Chairman asked for approval of the public Board minutes for the April 17, 2023, Board Meeting.
Upon motion made by Director Benson and seconded by Director Withee the following action was voted on:
VOTED: To accept the minutes of the April 17, 2023, Board Meeting.
The following named Directors voted:
Aye: Matthew Benson, Stephen Duprey, Chuck Withee, Nancy Merrill, Jason Syversen, and Jeff Hayes.
Nay: None
Abstain: Monica Mezzapelle
Whereupon the Vice Chairman declared said resolution adopted.
At 2:28 p.m., the Vice 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 Withee and seconded by Director Benson, the following roll call vote was taken to enter by the following Directors:
Aye: Monica Mezzapelle, Matthew Benson, Stephen Duprey, Chuck Withee, Nancy Merrill, Jason Syversen, and Jeff Hayes.
Nay: None
Abstain: None
Following a vote of the Board to enter a nonpublic session, the minutes of the nonpublic session are hereby recorded.
At 2:53p.m. the Vice 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 Hayes, seconded by Director Withee.
VOTED: To return to the public meeting and seal the nonpublic minutes.
The following named Directors voted:
Aye: Monica Mezzapelle, Matthew Benson, Stephen Duprey, Chuck Withee, Nancy Merrill, Jason Syversen, and Jeff Hayes.
Nay: None
Abstain: None
The Vice Chairman asked for a vote from the Board to issue up to $72,500,000 in State Guaranteed Taxable Financing under RSA 162-I to finance a project for New Balance Athletics, Inc., 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, and approval of the associated Resolution to be signed by the Executive Director.
Upon motion made by Director Hayes, seconded by Director Withee.
The following named Directors voted:
Aye: Monica Mezzapelle, Matthew Benson, Stephen Duprey, Chuck Withee, Nancy Merrill, Jason Syversen, and Jeff Hayes.
Nay: None
Abstain: None
Whereupon the Vice Chairman declared said resolution adopted.
The Vice Chairman asked the Board to vote to approve a $500,000 SSBCI LOC under RSA 162-A for Grafton Regional Economic Development Corporation and to take all necessary action in relation thereto.
Upon a motion made by Director Withee and seconded by Director Hayes, the following action was voted on:
VOTED: To approve a $500,000 SSBCI LOC under RSA 162-A for Grafton Regional Economic Development Corporation and to take all necessary action in relation thereto.
The following named Directors voted:
Aye: Monica Mezzapelle, Matthew Benson, Stephen Duprey, Chuck Withee, Nancy Merrill, Jason Syversen, and Jeff Hayes.
Nay: None
Abstain: None
Whereupon the Vice Chairman declared said resolution adopted.
The Vice Chairman asked Chris Kreidermacher to review the April and May Financial Reports.
The Vice Chairman asked Chris Kreidermacher to review the FY 2024 BFA Budget.
The Vice Chairman asked the Board for a vote to approve and accept the FY 2024 Budget as presented.
Upon motion by Director Withee and seconded by Director Hayes, the following action was approved:
VOTED: To approve the BFA FY 2024 Budget as presented.
The following named directors voted:
Aye: Monica Mezzapelle, Matthew Benson, Stephen Duprey, Chuck Withee, Nancy Merrill, Jason Syversen, and Jeff Hayes.
Nay: None
Abstain: None
Whereupon the Vice Chairman declared said resolution adopted.
The Vice Chairman asked Mr. Stanizzi to review the Lending Reports for April and May
The Vice Chairman asked Mr. Key-Wallace to present the Executive Director’s Report.
There being no further business and upon motion made by Director Benson and seconded by
Director Hayes, the meeting was adjourned at 3:51p.m.
Respectfully submitted:
James Key-Wallace
Executive Director/Clerk