CDNews introduces a proposed $450 million city-run broadband system that could be financed through municipal revenue bonds issued against future subscriptions with initial service starting in just 18 months, expanding city-wide in 3 to 4 years.
This wouldn’t be the first time that Seattle had decided that the city could step in and provide what private industry was failing at. In 1900, the privately owned Seattle Electric Company provided power to residences and businesses across the city. But at $.20 per kilowatt-hour, it was expensive – several times more expensive than today. In inflation-adjusted terms, those rates would make your typical $75 electric bill in 2010 skyrocket up to $4,000.
So in 1902 city voters decided to allow the city to issue bonds to start a municipal electric system, and today we have Seattle City Light, which provides some of the lowest electric rates across the nation.
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City requests your input on Google Ultra-High Speed Broadband details ways in which you can help Seattle be included in Google’s gigabit fiber-to-the-home pilot program — Capitol Hill Seattle