BUSINESS FINANCE AUTHORITY NOTICE AND AGENDA
The regular meeting of the Board of Directors is scheduled for
Monday, October 16, 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 August 22, 2023.
- Nonpublic Session for Consideration of Loan and Credits, as applicable.
- Approval of Items and associated Resolutions from nonpublic session, as applicable.
- Amending Resolution up to $33,100,000 Loan for Project for Sig Sauer, Inc.
- 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 August 2023
- Month End September 2023
- Lending Reports – Jeremy Stanizzi
- CAP Monthly –August/September 2023
- CAP Statistics/Demographics –September 2023
- Capacity Report –September 2023
- Executive Director’s Report.
- Other Business.
Date mailed: October 11, 2023
BFA BOARD OF DIRECTORS MINUTES
The meeting of the Board of Directors of the Business Finance Authority (“BFA”) was called to order at 2:00 P.M. by Chairman Anagnost at 135 N. State Street, Concord, New Hampshire. The following Directors were present:
Dick Anagnost, Matthew Benson, Stephen Duprey, Daniel Henderson, Jason Syversen, Jeff Hayes, Catherine Provencher, and Monica Mezzapelle. Also present were: James Key-Wallace, Executive Director and Clerk; Chris Kreidermacher, Chief Financial Officer; Jeff Cook, Credit Analyst; Deborah Intonti, Executive Assistant, John Stoecker, National Finance Authority, Lee McCormack, National Finance Authority, Representative Michael Edgar, and Kris Moussette, Hinckley Allen, and Senator Lou D’Alessandro.
Absent were: Jeremy Stanizzi, Senior Credit Officer, Director Nancy Merrill, Director Viram Mansharamani, Representative Laurie Sanborn and Senator Keith Murphy.
Chairman Anagnost announced the meeting was open to the public and welcomed all present.
The Chairman asked for approval of the public Board minutes for the August 22, 2023, Board Meeting.
Upon motion made by Director Provencher and seconded by Director Syversen the following action was voted on:
VOTED: To accept the public minutes of the August 22, 2023, Board Meeting.
The following named Directors voted:
Aye: Dick Anagnost, Matthew Benson, Stephen Duprey, Jason Syversen, Jeff Hayes, Catherine Provencher.
Nay: None
Abstain: Monica Mezzapelle, Daniel Henderson.
Whereupon the Chairman declared said resolution adopted.
The Chairman stated that the resolution authorizing up to $33,100,000 loan for a project for Sig Sauer Inc., adopted on February 13, 2023, needed to be amended and restated, due to some minor changes in address. The Chairman read the amended resolution.
The Chairman asked for approval of the amended resolution.
Upon a motion made by Director Duprey and seconded by Director Mezzapelle the following action was voted on:
VOTED: To accept the amended resolution.
The following named Directors voted:
Aye: Dick Anagnost, Matthew Benson, Stephen Duprey, Jason Syversen, Jeff Hayes, Catherine Provencher, Monica Mezzapelle, Daniel Henderson.
Nay: None
Abstain: None.
Whereupon the Chairman declared said resolution adopted.
Public Hearing Opened at 2:03 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 the Board of Directors for any other discussion, hearing none, the Chairman closed the Public Hearing at 2:08 p.m.
The Chairman asked the Board of Directors for a vote to approve the 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.
Upon a motion made by Director Duprey and seconded by Director Mezzapelle 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 $ 13,500,000
Guarantee of Industrial Development Bonds $163,000,000
State Guarantee of BFA Bonds $ 20,000,000
Working Capital Loan Guarantee $ 3,500,000
The following named Directors voted:
Aye: Dick Anagnost, Matthew Benson, Stephen Duprey, Jason Syversen, Jeff Hayes, Catherine Provencher, Monica Mezzapelle, Daniel Henderson.
Nay: None.
Abstain: None.
Whereupon the Chairman declared said resolution adopted.
The Chairman asked Chris Kreidermacher to review the August and September Month End Financial Reports.
The Chairman asked Mr. Cook to review the Lending Reports for August and September. Mr. Key-Wallace reviewed the 1 Year Impact PowerPoint presentation for NH State Small Business Credit Initiative.
The Chairman asked Mr. Key-Wallace to present the Executive Director’s Report.
There being no further business and upon motion made by Director Henderson and seconded by
Director Syversen, the meeting was adjourned at 2:36 p.m.
Respectfully submitted:
James Key-Wallace
Executive Director/Clerk