ProPublica

There Are Kentuckians Who Still Don’t Have Broadband Because the Former Governor Chose an Investment Bank Over Experts

Former Gov Steve Beshear’s (D-KY) administration repeatedly ignored expert advice before embarking on KentuckyWired, the massively over budget statewide broadband project that will leave rural residents waiting months, if not years, for the improved internet access they were promised, a new state audit says. The report, released Dec 16 by state Auditor Mike Harmon, says consultants and outside lawyers warned KY officials more than four years ago that negotiations with the Australian investment bank Macquarie Capital could lead to a higher price tag and fewer protections for the state.

How Kentucky Gambled for Hundreds of Millions of Dollars From a Broadband Program It Didn't Qualify For

In the spring of 2015, KentuckyWired, the Bluegrass State's ambitious plan to bring high-speed internet access into rural areas, had ground to a halt. Officials were in talks with Macquarie Capital, an Australian investment bank known for organizing big infrastructure projects around the globe, to build and manage the new network.