NewsPolitics & Government

UPDATE: Charles City broadband project still fleshing out financing aspect

The Charles City area was originally slated to have broadband internet by Fall of 2020.

This plan was hindered by two major factors: the pandemic and the money needed to actually do the project. This part and other smaller steps of the project were getting so difficult for the Broadband Commission in town that they put a complete pause on the project in early December.

Mayor Dean Andrews says the project is still a high priority.

 

Municipal bonds are bonds backed only by the users of the broadband itself. This makes it so that the entire taxpayer community doesn’t have to pay for the project if they do not plan on actually using it.

Problem is, this has made it more difficult to actually sell these bonds.

Andrews says the commission will meet tomorrow to better flesh out the financing going forward.

 

The final steps will be to find funding for the project, put fiber in the ground, hire a general manager for the project, and piece together the marketing aspect of the project.

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