The Massachusetts Health and Educational Facilities Authority last week created an eight-member advisory committee to evaluate a possible merger with its sister authority, the Massachusetts Development Finance Agency.
The new panel will submit a report to MassHEFA’s board 90 days after its first meeting. It will review legal matters, including any necessary legislative approvals, and evaluate the financial impact on HEFA’s borrower clients, according to a memo detailing the motion to create the advisory committee.
The panel will consist of board chairman Allen Larson, vice chairman Marvin Gordon, secretary Christine Schuster, executive director Benson Caswell, the authority’s general counsel, and three client representatives.
Gov. Deval Patrick has said a merger would create cost savings for the two bonding authorities. Critics say folding HEFA into MassDevelopment’s operations would increase costs for borrowers.
