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Truckee, CA is 12 miles north of Lake Tahoe and is a booming resort community of 14,000 people along I-80 between Sacramento and Reno, NV. Three years ago, the 75 year-old Public Utility District (PUD) decided it would enter the telecommunications/ broadband business because the PUD itself, government services, businesses, residents, and second-home owners wanted better access to broadband, better customer service, and more choices. After researching the best practices used for publicly owned communications infrastructure, they decided on a Fiber to the User (FTTU) network that reaches every home and business with high-speed fiber – about 12,000 subscribers. However, finding a willing lender to put the money up, and building the business case that would convince an underwriter or lender required a wide set of entrepreneurial & professional skills and resources the PUD didn’t have with its limited start-up budget, and were available in the market place at a price tag that made sense. And to make it even more interesting, legal regulations prohibit the PUD from using assets or revenues from the electrical or water divisions to finance the broadband division start-up. Politically, they had to hit a “bulls eye” the first time. Aggregate Networks has worked with the PUD since May, 2002, delivering financial advisory services, as well as “taking ownership” of the process at every level resulting in a FTTU system that otherwise may not have been completed. Aggregate Networks worked intimately on:
Essentially, Aggregate Networks acted as the “Developer” in many respects to make sure that the process went as needed in order to be financed. |
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