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Thursday, June 11, 2020 9:00 A. M NEW YORK STATE HOUSING FINANCE AGENCY STATE OF NEW YORK MORTGAGE AGENCY NEW YORK STATE AFFORDABLE HOUSING CORPORATION STATE OF NEW YORK MUNICIPAL BOND BANK AGENCY TOBACCO SETTLEMENT FINANCING CORPORATION STATE OF NEW YORK MORTGAGE AGENCY MORTGAGE INSURANCE COMMITTEE NEW YORK STATE HOUSING FINANCE AGENCY FINANCE AND PROGRAM COMMITTEE 641 LEXINGTON AVENUE, NEW YORK, NY 10017 (212) 688-4000 - FAX (212) 872-0789 BOARD MEETINGS THURSDAY, JUNE 11, 2020 9:00 A. M. ANDREW M. CUOMO RUTHANNE VISNAUSKAS Governor Commissioner/CEO BOARD OF DIRECTORS HFA/AHC MEMBERS SONYMA DIRECTORS Kenneth G. Adams, Chairman Kenneth G. Adams, Chairman RuthAnne Visnauskas , Vice Chair RuthAnne Visnauskas, Vice Chair Michael R. Schmidt Jonathan A. Ballan Joyce L. Miller David E. Kapell Robert Mujica Joyce L. Miller Robert Mujica Maria T. Vullo Bethaida Gonzalez MBBA/TSFC MEMBERS/DIRECTORS Kenneth G. Adams, Chairman Joyce Miller Robert Mujica Rossana Rosado Andrew SanFilippo STATE OF NEW YORK MORTGAGE AGENCY MORTGAGE INSURANCE COMMITTEE Kenneth G. Adams, Chairman Jonathan A. Ballan David E. Kapell Robert Mujica RuthAnne Visnauskas 641 Lexington Avenue • New York, NY 10022 • nyshcr.org F:\LEGAL\LV\2020\Board book June 11\Member Listing\Member Listing.docx NEW YORK STATE HOUSING FINANCE AGENCY NEW YORK STATE AFFORDABLE HOUSING CORPORATION STATE OF NEW YORK MORTGAGE AGENCY STATE OF NEW YORK MUNICIPAL BOND BANK AGENCY TOBACCO SETTLEMENT FINANCING CORPORATION STATE OF NEW YORK MORTGAGE AGENCY MORTGAGE INSURANCE COMMITTEE NEW YORK STATE HOUSING FINANCE AGENCY FINANCE AND PROGRAM COMMITTEE JUNE 11, 2020 ______________________________________________________________________________ SHARED ACTION ITEMS: 1. Approval of the transcript of the meetings of the New York State Housing Finance Agency, the State of New York Mortgage Agency, the Affordable Housing Corporation, the State of New York Mortgage Insurance Committee and the New York State Housing Finance Agency Finance and Program Committee held via telephone on May 14, 2020. 2. Authorization to amend (i) the Budget for the BAM project (ii) the not to exceed amount paid under IT Temporary Staffing Consultant Services Contracts (“IT Contracts”) and (iii) the not to exceed amount paid under HFA’s Hosting Technology Agreement with ProLink. (HFA/SONYMA/AHC/MBBA/TSFC) CONSENT ITEM: 3. Approval of independent audit contracts with Ernst & Young LLP (HFA/SONYMA/AHC/MBBA/TSFC). ITEM REQUIRING MORTGAGE INSURANCE COMMITTEE ACTION: 4. Resolution of the SONYMA Mortgage Insurance Committee approving 100% mortgage insurance on a $5,550,000 CPC permanent first mortgage loan for Crannell Square; 35 Catharine Street, Poughkeepsie, Dutchess County. ITEMS REQUIRING HFA FINANCE AND PROGRAM COMMITTEE AND HFA BOARD ACTION: 5. Resolutions of the HFA Finance and Program Committee and the HFA Members authorizing the issuance of refunding bonds for the purpose of refinancing outstanding tax-exempt debt obligations in an estimated amount of $80,000,000 for 15 Hudson Yards, City of New York, New York County. 1 6. Resolutions of the HFA Finance and Program Committee and the HFA Members recommending and approving the extension of the Initial Private Placement Mode End Date for 810 Fulton Street, Brooklyn, Kings County. ITEMS REQUIRING AHC ACTION: 7. Approval of the Annual AHC PARIS Procurement Report for the fiscal year ending March 31, 2020. 8. Approval of AHC’s Annual Investment Report for fiscal year ending March 31, 2020. 9. Resolution approving the AHC March 31, 2020 Financial Statements. 10. Resolution approving a PARIS filing for the period ending March 31, 2020. 2 SHARED ACTION ITEMS: ITEM 1: ANDREW M. CUOMO RUTHANNE VISNAUSKAS Governor Commissioner/CEO June 4, 2020 FROM: Secretary to the Boards TO: HFA/AHC/SONYMA/MBBA/TSFC Members and Directors SUBJECT: Adoption of Board meeting transcript. As a result of the COVID crisis, and in accordance with the Governor’s Executive Order amending Article 7 of the Public Officers Law, the regularly scheduled Board meetings of the Agencies were held on May 14, 2020 via telephone conference, with the public having access to a telephone number through which they could listen to the meetings. The Executive Order provided that the public have the ability to listen to the meeting, and that the meetings be transcribed. In lieu of the usual Board minutes, attached is the transcript of the meetings, which include all the materials normally included in the minutes. The transcript is presented for your review. If there are no corrections, the transcript stands approved as read, and will be used as the Agencies’ records of proceeding. 641 Lexington Avenue • New York, NY 10022 • nyshcr.org TRANSCRIPT OF THE MAY 14, 2020 BOARD MEETINGS OF THE STATE OF NEW YORK MORTGAGE AGENCY, THE NEW YORK STATE HOUSING FINANCE AGENCY, THE AFFORDABLE HOUSING CORPORATION, THE STATE OF NEW YORK MORTGAGE AGENCY MORTGAGE INSURANCE COMMITTEE AND THE NEW YORK STATE HOUSING FINANCE AGENCY FINANCE AND PROGRAM COMMITTEE. Linda Manley, Senior Vice President and Counsel to the Agencies, stated that she will now open the May 14, 2020 meeting of the Board of Directors of the New York State Housing Finance Agency, the State of New York Mortgage Agency, the Affordable Housing Corporation, the State of New York Mortgage Agency Mortgage Insurance Committee, and the New York State Housing Finance Agency Finance and Program Committee, and noted that because of the novel corona virus emergency in the State, and Federal bans on large meetings or gathering and pursuant to Governor Cuomo’s executive order 220.1 issued on March 12, 2020, which order was extended on April 9, 2020 certain provision of the open meetings law have been suspended. Ms. Manley also stated that the Board meeting would be held by conference call instead of as a public meeting open for the public to attend in person, and that a call-in number was made public for the public to listen to the proceedings. Ms. Manley noted that because of these special features a change in voting procedures would be put in place for this meeting and she would be asking each Board member to record their votes individually. Ms. Manley asked for a motion to call the meeting of the HFA and AHC Boards to order. Chairman Adams made the motions and Mr. Curtis seconded. Mr. Olczak voted aye; Ms. Visnauskas voted aye. Ms. Manley noted the presence of a quorum for HFA and AHC. Ms. Manley asked for a motion to call the meeting of the HFA Finance and Program Committee to order. Chairman Adams made the motion and Mr. Olczak seconded the motion. Ms. Visnauskas voted aye. Ms. Manley noted the presence of a quorum for the HFA Finance and Program Committee. Ms. Manley asked for a motion to call the meeting of the SONYMA Board to order. Chairman Adams made the motion and Mr. Kapell seconded. Mr. Ballan voted aye, Ms. Vullo voted aye; Ms. Visnauskas voted aye, Mr. Olczak voted aye; and Ms. Gonzalez voted aye. Ms. Manley noted the presence of a quorum for SONYMA. Ms. Manley asked for a motion to call the meeting of the SONYMA Mortgage Insurance Committee to order. Chairman Adams made the motion and Mr. Ballan seconded the motion. Mr. Kapell voted aye; Mr. Olczak voted aye; and Ms. Visnauskas voted aye. Ms. Manley noted the presence of a quorum for the MIF. Ms. Manley noted that a last-minute scheduling conflict will prevent Chairman Adams from staying on and participating at today’s meeting. She noted that Chairman Adams’ vote is needed to maintain a quorum for HFA, as well as for voting purposes. Chairman Adams explained the circumstances to the Boards and noted that he had reviewed each of the items before the HFA Board and the Finance and Program Committee and was prepared to vote in favor of passage of each item. Ms. Manley proceeded to record Chairman Adams’s affirmative vote on each item on the HFA agenda. The transcript of proceedings will reflect his vote. Ms. Manley proceeded to present the first item as the approval of the transcript of the meeting held on April 9, 2020. Ms. Manley asked Chairman Adams to vote and Chairman Adams voted aye. Ms. Manley continued to present the second item as a resolution authorizing an amendment (i) to the Budget for the BAM project (ii) the not to exceed amount paid under IT Temporary Staffing Consultant Services Contracts and (iii) the not to exceed amount paid under HFA’s Hosting Technology Agreement with ProLink. Ms. Manley asked Chairman Adams to vote and Chairman Adams voted aye. Ms. Manley presented the third item as the adoption of the resolution authorizing an amendment to the Agencies’ contract with Gartner. Ms. Manley asked Chairman Adams to vote and Chairman Adams voted aye. Ms. Manley presented the fourth item as the Bond sale reports for quarters ending January 31, 2020 and April 30, 2020. Ms. Manley asked Chairman Adams to vote and Chairman Adams voted aye. Ms. Manley presented the fifth item as the adoption of resolution extending HFA/SONYMA contract with TierPoint for leasing of space in connection with disaster recovery data center operations. Ms. Manley asked Chairman Adams to vote and Chairman Adams voted aye. Ms. Manley presented the following item representing HFA Finance and Program as well as HFA member as the resolution authoring a $100,500,000 unrated, private placement financing for Dock Street apartments, Brooklyn, Kings County. Ms. Manley asked Chairman Adams to vote and Chairman Adams voted aye. Ms. Manley also asked Chairman Adams if he would vote in the affirmative if a Board vote was requested to go into Executive Session. Chairman Adams voted aye. Chairman Adams thanked the Boards for their consideration and exited the meeting. Ms. Manley noted that for purposes of conducting the meetings, Ms. Visnauskas would take on the responsibilities usually undertaken by Chairman Adams in leading the meetings.
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