Title
RESOLUTION AUTHORIZING AN INTERFUND TRANSFER TO A BROADBAND ENTERPRISE FUND TO BE ESTABLISHED UP TO $5,000,000 FROM THE COMMUNITY INVESTMENT TRUST FUND TO SUPPORT THE DULUTH OPEN ACCESS FIBER PILOT PROJECT.
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CITY PROPOSAL:
WHEREAS, the Duluth city council authorized an application to the State of Minnesota Department of Employment and Economic Development Office of Broadband Development for a Broadband Development Grant in support of the Duluth Pilot Project; and
WHEREAS, the Border-to-Border Grant application will meet a 65% local match in funding from the City; and
WHEREAS, the city council deems the use of Community Investment Trust Funds to fund said local match to be an appropriate use of said funds.
RESOLVED, the council authorizes transfer of up to $5,000,000 from the Community Investment Trust Fund to a yet-to-be established broadband enterprise fund to be used for the match funding requirement and expenses associated with the Duluth Pilot Project for fiber and expansion of high-speed broadband in the City of Duluth for the long-term benefit of the community.
Statement of Purpose
STATEMENT OF PURPOSE: The purpose of this resolution is to obtain city council’s approval for the Lincoln Park Open Access Fiber Pilot Project funding. The City is applying for up to $5,000,000 for a Border-to-Border Grant with the State of Minnesota. These funds would be used for the local match of 65%. The Lincoln Park Pilot Project is consistent with the goals outlined in the Imagine Duluth 2035 comprehensive and the Digital Access Master Plan to ensure that residents and commercial businesses are provided reliable, affordable, and equitable fiber conductivity access.