financing

Content tagged with "financing"

Displaying 271 - 280 of 467

FairlawnGig Milestone: Officially Connects First Business Customers

Since late 2015, the small city of Fairlawn, Ohio, has been planning and preparing for a network with next-generation connectivity. The city is building the network, FairlawnGig, which will offer speeds of a Gigabit (1,000 Megabits) per second to subscribers. All speed tiers will be symmetrical, so upload and download will be equally fast.

Lightwave reports that FairlawnGig has officially connected its first two business customers: RDA Hotel Management and the architectural firm David A.Levy & Associates.

Necessary Connectivity For Businesses

RDA Hotel Management officially signed up for the service and immediately experienced a 733 percent increase in Internet access speeds in its local hotel. The management company owns and operates the Hilton and Doubletree hotels throughout the nation. Two of the company's hotels have been connected to the network since early August as “beta customers” of the network. These “beta customers” (including hotels that hosted some Republican National Delegates) helped determine how well the network functioned, providing feedback on how to improve the experience for future subscribers. 

The local architectural firm David A. Levy & Associates is also pleased with the new connectivity. Neal Levy, business development director at David A. Levy & Associates described how the municipal fiber network has already improved productivity in the Lightwave article:

 "Prior to FairlawnGig, reliability was a serious issue and it took several minutes to save, transmit, and open a 50-MB file. Plus, our team couldn't work simultaneously in an AutoCAD [a design application used by many architect firms] file while it was auto saving or the file would freeze. Now it takes less than 10 seconds to open or save a file."

The FairlawnGig Story

Transcript: Community Broadband Bits Episode 230

 

This is the transcript for episode 230 of the Community Broadband Bits Podcast. Harold DePriest of Chattanooga, Tennessee, describes his role in building the fiber network in the city. This is an in-depth interview of over an hour in length. Listen to this episode here.

Harold DePriest: This fiber system will help our community have the kind of jobs that will let our children and grand children stay here and work if they want to. That is the biggest thing that has happened.

Lisa Gonzalez: This is episode 230 of the community broadband bits podcast from the Institute for Local Self-Reliance. I'm Lisa Gonzalez. Chattanooga, Tennessee has been profiled in dozens of media outlets. It's a community reborn from one of the dirtiest cities in America, to what is now an economic development powerhouse. The city's publicly owned fiber optic network provides high quality connectivity that attracts businesses and entrepreneurs, but getting to where they are today did not happen overnight. In this episode, Chris has an in depth conversation with Harold DePriest, one of the men behind bringing fiber optics to Chattanooga. He's retired now, but as president and CEO of the electric power board, he was involved from the beginning. Harold describes how the electric power board made changes both inside and out, and went from being just another electric utility, to one that's considered one of the best in customer service in the country. The interview is longer than our typical podcast, but we think it's worth is. Now here are Chris and Harold DePriest, former CEO and president of the electric power board in Chattanooga, Tennessee.

Christopher Mitchell: Welcome to a community broadband bits discussion. A long form discussion, a little bit different from what we normally do, with someone that I have a tremendous amount of respect for, Harold DePriest. Welcome to the show.

Harold DePriest: Thank you. It's good to be with you Chris.

Federal Grant Aids Hayward, CA, Infrastructure Project

The federal government has awarded a $2.74 million grant to Hayward, California, to help fund the design and installation of conduit and fiber-optic network in the city’s industrial zone.

The grant, from the U.S. Department of Commerce’s Economic Development Administration, will enable Hayward (pop. 150,000) to install at least 11 miles of new conduit and fiber optic cable, the city said in a recent news release. Construction will begin in September 2017, and should be finished by the fall of 2019.

Paul Nguyen, city economic development specialist, told us, “The $2.7 million grant award is 50 percent of the total estimated project cost, roughly $5.4 million.” The city’s matching share of the project includes a $2.1 million in-kind contribution of the city's publicly-owned right-of-way property, $480,000 in general funds, and an additional $156,000 that has already been committed to the construction and installation of fiber-optic conduit in the Whitesell Street segment of the fiber loop.

Leveraging Existing Infrastructure

In its news release, Hayward officials said:

“The fiber optic network will leverage existing city-owned underground conduit and fiber optic cables used primarily for traffic communications and include new construction to complete a loop in the Industrial Technology and Innovation Corridor. This crescent-shaped corridor, located along Hayward’s western and southwestern city limit, is home to a wide range of businesses including manufacturers of food, pharmaceuticals, auto parts and electronics. The area is also becoming home to an increasing number of biotechnology and medical device makers.” 

Nguyen noted:

“Today, access to broadband Internet service is as vital to industry as electricity was a hundred years ago. This federal funding will help expand Hayward’s broadband infrastructure and enhance our community’s ability to attract new advanced industries. It will also provide our existing businesses with the tools they need be competitive in today’s high-speed, data-driven global economy.”

Expectations, Planning

Federal Reserve Report Highlights High-Quality Connectivity

The Federal Reserve is responsible for setting interest rates and executing monetary policy in the United States, but many people don’t realize that the agency also has a hand in community development. This summer, the Federal Reserve Bank of Dallas released a report, Closing the Digital Divide: A Framework for Meeting CRA Obligations, which includes information for banks about funding digital inclusion programs and community networks.

The report, published in July, states:

“Access to broadband has become essential to make progress in all areas of community development—education and workforce development, health, housing, small-business development and access to financial services.”

Closing the Digital Divide is important not only because it provides substantial information for banks, but also because it indicates federal support exists for community-based infrastructure improvements. The report discusses improving Internet access for low and moderate-income individuals and neighborhoods.

Using The Community Reinvestment Act To Improve Infrastructure

From the 1930 until the late 1970s, many banks denied lending to individuals and organizations based on their location. The practice is called “redlining” after the red ink that outlined low-income neighborhoods on a map, and was made illegal when Congress passed the Community Reinvestment Act (CRA) in 1977. Under the CRA, banks must to use the same evaluation criteria for all loan applicants regardless of the neighborhood they live in, which expands lending to include low and moderate-income (LMI) individuals. The Federal Reserve assesses banks’ performance under CRA guidelines, which bring about $100 million in capital to low and moderate income areas per year through various projects. Improving Internet access is an increasingly large portion of these initiatives.

In The Weeds

The Deep History of Chattanooga's Fiber Network - Community Broadband Bits Podcast 230

In a break from our traditional format of 20-30 minutes (or so), we have a special in-depth interview this week with Harold Depriest, the former CEO and President of Chattanooga's Electric Power Board. He recently retired after 20 incredibly transformative years for both Chattanooga and its municipal electric utility. 

We talk about the longer history behind Chattanooga's nation-leading fiber network and how the culture of the electric utility had to be changed long before it began offering services to the public. We also talk about the role of public power in building fiber networks.

Something we wanted to be clear about - we talk about the timeline of when Chattanooga started to build its network and how that changed later when the federal stimulus efforts decided to make Chattanooga's electric grid the smartest in the nation. This is an important discussion as few understand exactly what the grant was used for and how it impacted the telecommunications side of the utility. 

But we start with the most important point regarding Chattanooga's fiber network - how it has impacted the community and the pride it has helped residents and businesses to develop. For more information about Chattanooga's efforts, see our report, Broadband at the Speed of Light, and our Chattanooga tag

This show is 70 minutes long and can be played on this page or via Apple Podcasts or the tool of your choice using this feed

Transcript below. 

We want your feedback and suggestions for the show-please e-mail us or leave a comment below.

Listen to other episodes here or view all episodes in our index. See other podcasts from the Institute for Local Self-Reliance here.

Thanks to mojo monkeys for the music, licensed using Creative Commons. The song is "Bodacious."

Transcript: Community Broadband Bits Episode 225

This is episode 225 of the Community Broadband Bits. Representatives of Midwest Energy Cooperative discuss their project to bring high-speed connectivity to rural southwest Michigan. Listen to this episode here.

Dave Allen: I really see this as a re-lighting of rural America.

Lisa Gonzalez: This is episode 225 of the Community Broadband Bits podcast, from the Institute for Local Self-Reliance. I'm Lisa Gonzalez. There's a project taking shape in rural southwest Michigan and the nearby regions of Indiana and Ohio. It's headed up by the Midwest Energy Cooperative. At the recent Broadband Communities Economic Development Conference in Minneapolis, Chris ran into Bob Hance, President and CEO of the cooperative, and Dave Allen, the cooperative's Vice President of Regulatory Compliance. Naturally, we wanted to hear more about their project and share the details with you. They provide some history and how access to high quality connectivity has positively impacted a number of their rural members. Chris, Bob, and Dave also have some interesting thoughts on federal funding programs, project standards, and the different rules for cooperatives and big corporate providers. Learn more about the project at teamfiber.com, where you can also discover more about the cooperative. Now you may notice some background noise. We apologize in advance. While we advocate for local choice and access to technology, sometimes technology is just not on our side. We had a little trouble with the mic that day. Also, Chris is suffering from allergies, and until winter sets in, he may sound a little like the late Howard Cosell, but never fear, it is our Christopher. Now, here with Chris are Bob Hance, President and CEO, and Dave Allen, Vice President of Regulatory Compliance for Midwest Energy Cooperative.

Christopher Mitchell: Welcome to another edition of the Community Broadband Bits podcast. I'm Chris Mitchell. Today, I'm speaking with two folks from Michigan. Bob Hance, the President and CEO of Midwest Energy Cooperative. Welcome to the show.

Bob Hance: Thank you.

Christopher Mitchell: And Dave Allen, the Vice President of Regulatory Compliance for the Cooperative. Welcome to the show.

Rural Electrics Solve Rural Internet Access Problems - Community Broadband Bits Podcast 229

Rural electric co-ops have started delivering high quality Internet access to their member-owners and our guest this week on Community Broadband Bits episode 229 is dedicated to helping these co-ops to build fiber-optic networks throughout their territories. Jon Chambers is a partner at Conexon and was previously the head of the FCC's Office of Strategic Planning and Policy Analysis.

Jon is a strong proponent for ensuring rural residents and businesses have at least the same quality Internet access as urban areas. We talk about his experience and frustration at the FCC, which was content to shovel money at telcos for the most basic infrastructure rather than setting higher expectations to ensure everyone had decent Internet access. We talk about how Co-Mo rolled out fiber to its members without federal assistance, inspiring electric cooperatives around the nation to follow suit.

In our discussion, I reference Jon's blog post "FCC to Rural America: Drop Dead." In it, he cites some of the reactions in the FCC from his advocacy for real rural solutions rather than signing big checks to big telcos for delivering slow and unreliable Internet access. One of quotes from a Democrat: "Republicans like corporate welfare, so we’re going to give money to the telephone companies to keep the Republicans on the Hill happy."

Neither political party comes off looking very good when it comes to rural connectivity, which fits with our impression. But Jon confirms another of our experiences when he says that when he works with rural communities, politics doesn't come up. They just focus on solutions.

This show is 36 minutes long and can be played on this page or via Apple Podcasts or the tool of your choice using this feed

Transcript below. 

We want your feedback and suggestions for the show-please e-mail us or leave a comment below.

Listen to other episodes here or view all episodes in our index. See other podcasts from the Institute for Local Self-Reliance here.

Thanks to mojo monkeys for the music, licensed using Creative Commons. The song is "Bodacious."

Bozeman Fiber Breaks Through Phase One

Downtown Bozeman businesses can expect fast, affordable, reliable connectivity via the Bozeman Fiber network within the coming weeks, reports the Bozeman Daily Chronicle. Phase one is now complete.

Businesses Up Next

Bozeman City offices, Gallatin County offices, and local public schools are already connected to the open access network, which is owned and operated by the nonprofit entity Bozeman Fiber. There are already three Internet Service Providers (ISPs) operating on the community network but local officials do not expect residents to have Fiber-To-The-Home (FTTH) Internet access just yet:

“Within a few hundred feet of where the fiber currently is will be available day one of commercial operations,” said Anthony Cochenour, president of the board of Bozeman Fiber. “As far as expanding the network and running under our own steam, (we want to) get business first, fill the coffers, then in years two and three make a bigger push into residential areas.”

Connecting to businesses first allows a community to test the waters, locate potential problems, and create interest in a community-based initiative. With the revenue generated by commercial customers and infrastructure deployed strategically throughout the community, it’s easier to expand to residential areas.

Standing On Its Own

In Bozeman, the $3.85 million in funding for the project came from local banks, so local officials feel especially compelled to create a self-sustaining and stable project. “While setting up Bozeman Fiber was important for economic development, we wanted it to be an agency that stands on its own. Bozeman Fiber is running its own show,” said [Bozeman economic development specialist David] Fine.

The Bozeman Fiber nonprofit plans to connect a local hospital in the near future and add another line west of town. They also hope to eventually host up to ten ISPs by the end of the year, increasing choice for consumers in the future.

NC Rural Electric Cooperatives Teach Model Collaboration

Throughout the October Broadband Communities Magazine conference, folks kept repeating this sentiment: some partnerships are smooth and others have rough patches. At the conference, we heard from several electric cooperatives who had partnered with other cooperatives to provide next-generation connectivity to their communities.

We specifically want to highlight the work of two North Carolina electric cooperatives: Lumbee River EMC and Blue Ridge Mountain EMC. They were both included in our report North Carolina Connectivity: The Good, The Bad, and The Ugly. Each co-op took the bold step of building a Fiber-to-the-Home (FTTH) network throughout sparsely populated regions. At the conference, we were able to learn first-hand about their experiences.

Despite the Distance: Lumbee River EMC & HTC

HTC Chief Executive of Marketing Brent Groome described how the two cooperatives collaborated despite being nearly an hour away from each other. Their work together has involved a commitment to similar values and dedication to improving rural communities. (Lumbee River EMC’s representative was unable to attend the conference as much of the service territory had suffered flooding from the recent hurricane.)

Lumbee River EMC’s entry into Internet service brought fiber connectivity to southeastern North Carolina. The co-op provides electricity to more than 50,000 members. In 2010, the USDA provided Lumbee River EMC with nearly $20 million in funding to install fiber. A state law, however, imposes certain restrictions on electric co-ops and USDA funding. The electric co-op had to find another company with the drive and expertise to provide Internet service.

Midwest Energy Cooperative Connects Rural Michigan - Community Broadband Bits Podcast 225

Telephone and electric cooperatives are making strides in bringing high-quality connectivity to rural areas while national providers stay in the city. This week we speak with two gentlemen from rural southwest Michigan’s Midwest Energy Cooperative: President and CEO Bob Hance and Vice President of Regulatory Compliance Dave Allen.

The electric cooperative has embarked on a project to bring fiber-optic connectivity to its members within its electric distribution grid. The multi-year project will bring better functionality to electric services and high-speed Internet access to areas of the state struggling with yesterday’s technologies. Bob and Dave describe the cooperative’s commitment to it’s members and discuss the deep roots of the cooperative in the region. They also touch on how the project is already improving lives in the areas that are being served.

Bob, Dave, and Chris, also spend some time discussing the difficulties that face rural cooperatives, especially regarding federal funding and its distribution. Serving sparsely populated areas is a challenge. Federal funding is often distributed more favorably to big corporate providers that promise to deliver much slower speeds than cooperatives like Midwest Energy. Co-ops are delivering better services, and building better networks with less federal funding; they also face higher hurdles to obtain that funding.

Why do they do it? Because they are invested in the future of their communities.

Read more about the project at the Midwest Connections Team Fiber website.

This show is 28 minutes long and can be played on this page or via Apple Podcasts or the tool of your choice using this feed

Transcript below. 

We want your feedback and suggestions for the show-please e-mail us or leave a comment below.

Listen to other episodes here or view all episodes in our index. See other podcasts from the Institute for Local Self-Reliance here.

Thanks to mojo monkeys for the music, licensed using Creative Commons. The song is "Bodacious."