Missouri Cooperative Implements Innovative Funding Plan for Broadband Network
Posted on May 10, 2011 in Financing, Project Development | Comments Off on Missouri Cooperative Implements Innovative Funding Plan for Broadband Network
Co-Mo Electric Cooperative, an electric cooperative in Missouri, has implemented a novel way to raise community support for two pilot fiber-to-the-home (FTTH) networks. The coop plans to begin construction if it gets 35 percent of customers in its service area to pay a $100 deposit and commit to take one year of broadband service. The coop has also garnered the support of two local banks, which have agreed to pay the $100 deposit for their first customers to sign up. The target date to meet the 35 percent goal is May 16, 2011. If the target is not met by that date, the pilot networks will not be built and all deposits will be refunded. The coop has currently reached 71 percent of its goal as of today’s date.
