Action Alert: Burlington City Council to Finalize BT Sale on 11/17

November 16, 2014

Call To Turn Out to 11/17 City Council Meeting

On Monday November 17th, the Burlington City Council will vote on two resolutions that will determine the future of Burlington Telecom. The Public Forum to make your voice heard will take place at 7.30 p.m.
 

The City Council is scheduled to finalize the “sale-leaseback” of Burlington Telecom to Bluewater Holdings. This agreement was approved by the Vermont Public Service Board in late October.
 

The sale of BT to Bluewater Holdings enables Burlington to generate $6 million of the $10 million settlement agreement reached with Citibank to resolve the City's $33 million loan default of 2009.

 

Once the City Council approves the sale to Bluewater, the clock will start to tick, and Burlington will have 3-5 years to find a new owner or partner—another requirement of the Citibank settlement.
 

The City Council will also vote to reclassify BT from a city department to a city enterprise (an example: the Airport or BED) and to reconstitute the Burlington Telecom Advisory Board (BTAB) as a commission with five public members (appointed by the City Council) and three city councillors.

 

This is the final opportunity to weigh in on BT's sale to Bluewater Holdings and the plan to operate BT “as independently as possible” in preparation for an ultimate sale in 3-5 years.

 

Your help will also be needed in future weeks and months to ensure that BT's future corporate structure enables the City to retain the largest possible control as we build our digital economy.
 

The City Council will vote on these two resolutions on Monday 11/17.
 

The resolutions will be the subject of discusion at the Finance Committee(5 – 6.30 p.m. at City Hall) and at the Burlington City Council Meeting (7 p.m. with Public Forum typically scheduled for 7:30 p.m.). The public is urged to attend.
 

This is also your opportunity to:
 

  • Ensure that the new BTAB members bring experience in telecommunications, alternative business structures and public enagement, to assist in the important efforts of securing BT's future, and to,
     
  • Urge the City to open a public process that enages citizens in the work of developing the criteria for selecting a future owner and partner for Burlington Telecom.
     

For more information, contact: Lauren-Glenn Davitian, davitian 'at' cctv.org or 802.862.1534 x12

 

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