Holden Abshier
Bloomington, Indiana, gives final go ahead for broadband project
Bloomington (IN) took final steps to solidify its agreement for city-wide, high-speed internet. Paris-based Meridiam will now be able to build a fiber optic network to at least 85 percent of residents within three years. The city’s redevelopment commission passed a resolution to appropriate funds generated by Meridiam’s new tax increment finance (TIF) district. Meridiam will invest $50 million in the network but receive almost $11 million in tax breaks through the TIF over 20 years. Under French law, Meridiam is a benefit corporation.