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CHEFA |
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According to the CHEFA underwriting manual, the goal of the authority is to provide the lowest reasonable cost for financing these projects through the use of tax-exempt or taxable debt. State oversight of the program, established in 1998, is strong, with the state treasurer paying both debt service and intercept components, and with CHEFA overseeing program participants, including maintaining a mortgage interest in most funded facilities. CHEFA financing policies have required these hospitals to conduct environmental compliance audits and Phase I environmental site assessments. |
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