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News & Press: In the Media

Scott Pitches Broadband Expansion Package to Lawmakers

Tuesday, February 5, 2019   (1 Comments)
Posted by: Jeff Couture
Gov. Phil Scott’s administration is proposing a slew of measures aimed at giving municipalities and communities the tools and funding to build out broadband infrastructure in rural Vermont.

The administration’s package of proposals, which they outlined to lawmakers, would include an infusion of about $1.5 million in additional spending on broadband-related expansion projects, and regulatory changes it says would spur buildout of fiber, or wireless internet infrastructure.

The governor has proposed putting an additional $1 million into the state’s connectivity fund which would pay internet service providers who do not have a financial incentive to expand to areas underserved by broadband companies.

About $540,000 would be harnessed to create a new loan program for “start up” broadband providers that would be administered by and funded through the Vermont Economic Development Authority.

The program would lend up to 90 percent of a broadband project’s costs for projects up to $2 million. Administration officials say it would inspire nonprofits and small businesses to build broadband infrastructure in areas where it is lacking.

Read the full VTDigger article.

Comments...

Ryan Munn says...
Posted Thursday, February 7, 2019
Amend the REDI for less friction with select boards, then allocate those funds to a depository reserve to provide credit to REDI issued Muni Bonds. Let the REDI manage the lending and financing of funds to startup providers.