Scott Duglin

The Board approved the financing application submitted by the New York State Environmental Facilities Corporation for the sale of State Clean Water and Drinking Water Revolving Funds Revenue Bonds. The financing, with a total aggregate principal amount not to exceed $456,492,000, is intended to fund municipal water pollution control projects and water supply facilities for various recipients. The resolution outlines the conditions for bond issuance, including interest rate limits, underwriting compensation, and maturity terms, as well as the alternative use of direct financings funded by federal grant money and state matching funds.

The consolidated meeting encompassed multiple housing and finance agencies and committees, covering an extensive agenda of financial and policy matters. Key topics included a report from the Commissioner and CEO regarding agency staffing changes and federal funding updates, the authorization of various lead prevention program awards, housing development and rehabilitation awards for specific projects across New York State, and approvals of annual budgets for rental assistance and housing programs. Additionally, the meeting addressed investment reports, the amendment of investment guidelines, cybersecurity reviews, internal audit plans, and the review of financial statements for the fiscal year ending October 31, 2025. Discussions also touched upon the impact of the Governor's budget proposal on housing and insurance, and the status of various insured loans and procurement contracts.

The meeting agenda covers a wide range of topics for the New York State Housing Finance Agency and affiliated entities. Key discussion points include the review of financial statements and budget results for the fiscal year ending October 31, 2025, investment reports, and cybersecurity review reports. Additional items include the consideration of annual audit plans, administrative budget requests for 2026-2027, and approval of various housing programs and development awards, such as the Vacant Rental Program, NYS Community Development Block Grant, and Land Bank Initiative awards. The meeting also involves the review of bond sale reports and contractual amendments.

The board approved multiple grant and bond-related resolutions. Key actions included authorizing regional economic development council grants, Restore New York Communities Fund grants, New York Forward Capital Fund grants, and Market New York grants. The board also approved bond issuances for school district revenue programs and Vaughn College of Aeronautics and Technology. Additionally, the board approved state revolving fund direct financing for several village and city water infrastructure projects and authorized a $50 million revolving credit facility for the Battery Park City Authority.

The agenda for the meeting included the Roll Call, approval of the January 28, 2025 minutes, and several resolutions involving grants and loans under various programs. Empire State Development Corporation items involved approving numerous grants totaling $4,653,850 via Regional Economic Development Councils, a $3,000,000 grant via Restore NY Communities, a $1,500,000 grant via the Economic Transformation Program, a $250,000 grant via the Empire State Economic Development Fund, and grants totaling $9,503,939 via the Connectall Municipal Infrastructure Program for high-speed internet expansion. The Dormitory Authority resolutions covered bond issuances up to $2,500,000,000 for refunding Personal Income Tax Revenue Bonds and up to $750,000,000 in commercial paper notes for NYU Langone Hospitals. The Housing Finance Agency resolutions concerned issuing bonds for new construction and rehabilitation of affordable housing across Kings, Albany, Nassau, and Oneida Counties, amendments to the Small Building Partnership Loan Program, and subsidy loans for projects like Palisade Towers and Merriman Avenue. Finally, the New York State Energy Research and Development Authority planned an issuance of Green Revenue Bonds not to exceed $60,000,000 to finance residential clean energy installations.