Ladies and gentlemen of Princeton. Start your engines.
An important milestone was reached tonight in the effort to bring high-speed broadband to Princeton. In tonight’s Princeton Broadband MLP meeting, the directors signed a memorandum of understanding (MOU) with Matrix/Millennium for the purposes of negotiating an agreement between the MLP and Matrix Design Group for the design, financing, and construction of a fiber-to-the-home network within Princeton. While the MOU is not the final contract to do the network construction, it is a significant step towards that end. (To use a relationship analogy, Princeton entered the “dating stage” with Matrix.)
In this proposed “public/private” venture, Matrix is agreeing to fund the entire cost of building the fiber network throughout the town. But, for our part in this proposed partnership, Princeton would be responsible for ensuring that the town infrastructure is ready for Matrix to do the buildout. In order to do this, there are necessary “make ready” costs that the town needs to pay to get all of the utility poles in proper condition as well as fund other start up costs (police details, etc.).
That’s why, with the MOU signed, the Princeton Broadband MLP recommended to the town Select Board to hold a special town meeting on November 18 at 7pm (at Thomas Prince) for the purpose of voting to borrow funds for “make ready” costs. The Select Board unanimously approved this recommendation.
In order to borrow the funds for make ready, 66% of the voters must approve this proposal. If that vote passes, then broadband will come to our town. An agreement will then be negotiated with Matrix to make this plan a reality.
With all of this news, there are surely many questions that come to mind, such as:
- How much are the make ready costs?
- How long will it take for Matrix Design Group to build the network?
- When can I signup?
- How much would a monthly subscription cost?
- Do we have a chance to state funding to pay for some of the make ready costs?
That’s why we will be holding two informational meetings in November (specifics to follow) to provide complete details on the “private/public” plan with Matrix Design Group, make ready costs, subscriber plans, and more. On princetonbroadband.com, we will also provide all of the details you will need to make a fully informed decision on November 18.
So, start your broadband engines! Get ready to get informed and get involved. Most important, make sure you do your part in the coming weeks so that together we can, once and for all, bring high-speed broadband to our town.