BUSINESS FINANCE AUTHORITY NOTICE AND AGENDA
The regular meeting of the Board of Directors is scheduled for Monday, November 17, 2025
at 2:00 PM, 135 N. State St, Concord, New Hampshire.
- Approval of Board of Director Nonpublic and Public Minutes for October 20, 2025.
- Audited Financial Report- Vachon Clukay & Company, PC.
- Nonpublic Session for Consideration of Loan and Credits, as applicable.
- Approval of Items and Associated Resolutions from nonpublic session, as applicable.
- To consider approving a resolution authorizing up to $99,000,000 bonds to be issued over time for Pennichuck Water Works, Inc., for various towns in New Hampshire.
- To consider approving a resolution authorizing up to $100,000,000 bonds for a project to acquire and hold digital currency.
- Financial Reports– Chris Kreidermacher
- Month End October
- Lending Reports October – Jeremy Stanizzi
- CAP Monthly
- CAP Statistics/Demographics
- Capacity Report
- Executive Director’s Report.
- Other Business.
Date mailed: November 12, 2025
BFA BOARD OF DIRECTOR’S MINUTES NOVEMBER 17, 2025
The meeting of the Board of Directors of the Business Finance Authority (“BFA”) was called to order at 2:01 P.M. at 135 N. State Street, Concord, New Hampshire. The following Directors were present:
Dick Anagnost, Matthew Benson, Stephen Duprey (2:04 p.m.), Monica Mezzapelle, Vikram Mansharamani (2:39 p.m.), Catherine Provencher, Cheryl Coletti-Lawson, Todd Horner, and Daniel Henderson. Also present were: James Key-Wallace, Executive Director and Clerk; Jeremy Stanizzi, Senior Credit Officer; Chris Kreidermacher, Chief Financial Officer; Deborah Intonti, Executive Assistant; John Stoecker, National Finance Authority, Cory Philbrick from Vachon Clukay & Company PC and Kris Moussette, Hinkley Allen, Representative Brian Cole (2:48 p.m.),
Absent were: Jeff Cook, Credit Analyst, Representative Daniels, Senator Innis, Senator Murphy.
Chairman Anagnost announced the meeting was open to the public and welcomed all present.
The Chairman asked for approval of the public and nonpublic Board of Directors minutes for the October 20, 2025.
Upon motion made by Director Mezzapelle and seconded by Director Provencher the following action was voted on:
VOTED: To accept the public and nonpublic minutes as presented for October 20, 2025, Board Meeting.
The following named Directors voted:
Aye: Dick Anagnost, Matthew Benson, Monica Mezzapelle, Catherine Provencher, Dan Henderson, Todd Horner, Cheryl Colletti-Lawson. Nay: None.
Abstain: Director Mansharamani, Stephen Duprey (not present).
Whereupon the Chairman declared said minutes adopted.
The Chairman welcomed Cory Philbrick the representative of the audit team from Vachon, Culkay & Company who was in attendance to present the FY 2025 a draft of the financial audit to the Board of Directors.
Mr. Philbrick gave a presentation report to the Board, answering questions as needed.
The Chairman asked the Board for a motion to accept the FY 25 Audited Financials as presented.
A motion was made by Director Provencher, seconded by Director Coletti-Lawson.
The following named Directors voted:
Aye: Dick Anagnost, Matthew Benson, Monica Mezzapelle, Catherine Provencher, Dan Henderson, Todd Horner, Cheryl Coletti-Lawson, Stephen Duprey. Nay: None.
Abstain: Vikram Mansharamani (not present).
Whereupon the Chairman declared FY 25 audited financials adopted.
Mr. Philbrick exited the meeting at 2:37 p.m.
NONPUBLIC SESSION
At 2:38 p.m. the Board entered into a Nonpublic Session under RSA 162-A:7-10 and RSA 162-A:13 (h) Consideration of applications by the Business Finance Authority, 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 a nonpublic session made by Director Duprey and seconded by Director Henderson, the following roll call vote was taken to enter:
Stephen Duprey Yes
Matthew Benson Yes
Monica Mezzapelle Yes
Catherine Provencher Yes
Daniel Henderson Yes
Todd Horner Yes
Cheryl Coletti-Lawson Yes
Dick Anagnost Yes
Nay: None Abstain: Vikram Mansharamani (not present)
PUBLIC SESSION RESUMED AT 2:47 p.m.
Chairman Anagnost asked for a motion to return to public session. A motion was made by Director Mezzapelle and seconded by Director Duprey.
The following named Directors voted:
Aye: Dick Anagnost, Stephen Duprey, Matt Benson, Monica Mezzapelle Catherine Provencher, Todd Horner, Daniel Henderson, Cheryl Coletti-Lawson, Vikram Mansharamani.
Nay: None Abstain: None
Chairman Anagnost asked for a motion to seal the nonpublic minutes of November 17, 2025. A motion was made by Director Duprey and seconded by Director Mezzapelle.
The following named Directors voted:
Aye: Dick Anagnost, Stephen Duprey, Matt Benson, Monica Mezzapelle Catherine Provencher, Todd Horner, Daniel Henderson, Cheryl Coletti-Lawson, Vikram Mansharamani.
Nay: None Abstain: None
The Chairman asked the Board to enter a motion to approve the loan request of an SSBCI funding loan request for ROCK DOG REALTY LLC or nominee in the amount of $1,000,000 (under the Collateral Shortfall Program).
Upon motion made by Director Provencher and seconded by Director Duprey, the following action was voted on:
VOTED: To approve the loan request of an SSBCI funding loan request for ROCK DOG REALTY LLC or nominee in the amount of $1,000,000 (under the Collateral Shortfall Program).
The following named Directors voted:
Aye: Dick Anagnost, Stephen Duprey, Matt Benson, Monica Mezzapelle Catherine Provencher, Todd Horner, Daniel Henderson, Cheryl Coletti-Lawson, Vikram Mansharamani.
Nay: None Abstain: None
The Chairman asked for a vote to consider approving a resolution under RSA 162-I and authorizing up to $99,000,000 in bonds to be issued over time for Pennichuck Water Works, Inc., for various towns in New Hampshire.
Upon a motion made by Director Duprey and seconded by Director Henderson.
VOTED: To provide final approval to approve a resolution under RSA 162-I and authorizing up to $99,000,000 in bonds to be issued over time for Pennichuck Water Works, Inc., for various towns in New Hampshire.
The following named Directors voted:
Aye: Dick Anagnost, Stephen Duprey, Matt Benson, Monica Mezzapelle Catherine Provencher, Todd Horner, Daniel Henderson, Cheryl Coletti-Lawson, Vikram Mansharamani.
Nay: None Abstain: None
Whereupon the Chairman declared said resolution adopted.
The Chairman asked the Board to consider approving a resolution under RSA 162-I authorizing up to $100,000,000 bonds for a project to acquire and hold digital currency.
Upon a motion made by Director Mansharamani and seconded by Director Duprey.
VOTED: To provide final approval to approve a resolution under RSA 162-I authorizing up to $100,000,000 bonds for a project to acquire and hold digital currency with the condition of receiving the opinion of counsel that the bond has been duly authorized and is permitted under NH RSA 162-I.
The following named Directors voted:
Aye: Dick Anagnost, Stephen Duprey, Matt Benson, Monica Mezzapelle Catherine Provencher, Todd Horner, Daniel Henderson, Cheryl Coletti-Lawson, Vikram Mansharamani.
Nay: None Abstain: None
Whereupon the Chairman declared said resolution adopted.
The Chairman asked Mr. Kreidermacher to review the month end Financial Reports.
The Chairman asked Mr. Stanizzi to review the Lending Reports.
The Chairman asked Mr. Key-Wallace to present the Executive Director’s Report.
The Chairman asked the Board if there was any further business to discuss. There being no further business, the Chairman asked for a vote to adjourn.
Upon motion made by Director Duprey and seconded by Director Mezzapelle the meeting was adjourned at 3:20 p.m.
The following named Directors voted:
Aye: Dick Anagnost, Stephen Duprey, Monica Mezzapelle, Vikram Mansharamani, Cheryl Coletti-Lawson, Todd Horner, and Daniel Henderson. Nay: None.
Abstain: Catherine Provencher (left meeting at 3:10 p.m.) Matthew Benson (left meeting at 3:15 p.m.)
Respectfully submitted:
James Key-Wallace, Clerk