The Lake County Board of Commissioners learned four entities submitted bids for Lake Connections, the county’s municipal broadband project.
The initial bidding period ended Nov. 2 with Lake Partners, Hanson Communications, Mediacom Communications Corp. and Cooperative Light and Power (CLP) in Two Harbors submitting bids, along with a $100,000 deposit, for the network. They will have the opportunity to submit a “best and final offer,” according to the terms of the sale set by the county and the U.S. Department of Agriculture’s Rural Utilities Service (RUS).
The County received federal ARRA funding (loan ($56M) and grant ($10)) to build the network in 2010. After ups and downs that network was mostly completed in 2015. IN 2015, the County invested another $15 million and the FCC awarded a grant of $3.5 million.
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In June 2017, the county entered into a deferral agreement with RUS for principal and interest on the condition the county sell the network to a private company or entity. Two months later, the county executed a memorandum of understanding with RUS in which RUS agreed to accept to the sale price of Lake Connections in full satisfaction of the county’s debt for construction of the network.
The county board is reviewing the bids, according to County Administrator Matt Huddleston, and specific bid information was not provided. Since there were fewer than five bids, Pinpoint Holdings Inc. in Cambridge, Neb., will also have a chance to make a final bid for the network.
In late July, Pinpoint offered $3.5 million for the network in an initial bid that set the baseline price for the network.
Two bidders, Mediacom and CLP, have conflicted with the network in the past.
The deadline for bids is Nov 29; the County is scheduled to make a decision on Dec 11.