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CHEFA's Capital Ideas Newsletter - Winter 2010

Newsletter: Capital Ideas Winter 2010 Edition

Hospital for Special Care Receives Letter of Credit for $20 Million Bond Issue

See announcement below.

Connecticut Credit Union Student Loan Program


When Public Act 09-110 was approved during the 2009 legislative session, the Connecticut Health and Educational Facilities Authority (CHEFA) began its collaboration with the Credit Union League of Connecticut to create a Credit Union Student Loan Program.  The program was established so that low interest rate loans could be offered to Connecticut students experiencing difficulty in obtaining financing for post-secondary education.

CHEFA’s Spring edition of 'capital ideas'

After the Bonds are Issued: Then What?

Published by the Advisory Committee on Tax Exempt and Government Entities, this white paper reviews the development of "policies, procedures, and systems to insure bonds remain tax-exempt".  Over the life of a bond issue "responsible officials may change" and it is important to establish procedures to maintain the tax-exempt status of the bonds.

After the Bonds are Issued: Then What?

CHEFA Fall Webinar - IRS Revised Form 990 Schedule K

The Authority hosted a webinar in Fall 2009 for its bond clients to review the Form 990 Schedule K in depth.  The following is an overview of this discussion.

Hartford Business Journal, "CHEFA Set to Boost Nonprofit Funding" article - 12/21/2009

HBJ's Greg Bordonaro recently interviewed Jeffrey A. Asher on CHEFA's financing options, and what the Authority is doing to meet the needs of nonprofits in Connecticut.

To read the article, visit

TEST CHEFA Bond Issue Provides $7.9 million of Financing for Hopkins School


Hartford and New Haven, CT – December 11, 2009

CHEFA produces its first issue of 'capital ideas'.

Inside this issue: 

New Capital Financing Products

The federal government recently unveiled new capital-financing programs to assist nonprofit borrowers in meeting their capital financing needs.

CHEFA Modifies Healthcare Underwriting Guidelines Criteria

In response to the lack of credit enhancement options for our borrowers and in order to provide continued access to capital, the Authority has modified its underwriting guidelines to enable borrowers to issue bonds based on the institution's own credit rating.