Waterloo Explores Funding Options for Broadband Design Projects and Prepares to Release Plan | New
The city is currently in the design phase of the partial network, Nadel said. The financing of the construction will be discussed later. Funding could come from bonds that would be repaid by taxpayers.
Magellan COO Courtney Violette said partial designs or installing broadband infrastructure in the near future will be compatible with all future expansions.
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“This is consistent with the current needs of the utility, but it is also consistent with the future needs of the city for other purposes or the future needs of communication services through expansions,” said Nadel.
Jessica Zufolo, Megallan’s vice president for rural broadband strategy, said the recently passed US bailout presents a “huge once in a lifetime opportunity” for Waterloo to fund its goals. According to the plan’s original wording, which gives Waterloo about $ 31.2 million, the funds can be used for broadband purposes. More advice is expected to be released in the next month by the US Treasury Department, Zufolo said.
The Federal Economic Development Administration could also be an option for broadband grants, Zufolo said. The agency has $ 3 billion for eligible cities, she said. These funds require a 20-50% match.
