Northeast Ohio’s Medina County Port Authority (MCPA) has allotted $14.4 million in bonds to finance the fabrication of a 144-strand fiber optic loop that will supply approximately 151 miles of broadband transport services throughout Northeast Ohio’s Medina County and into both the Akron and Cuyahoga County areas of Northeast Ohio.
The bond issuance, which took place on December 31, 2010 and which has been supported by MCPA Board member Jim Gerspacher, serves as
acts as the conclusion of nearly a decade-long struggle to give a publicly owned fiber optic network to Medina County. Gerspacher says, “The nonpartisanship of the network’s services will generate competition for broadband services in Medina County and decrease costs to consumers.” The bond issuance also takes advantage of the Recovery Zone Bond program, which ended December 31.
According to a Medina County Economic Development Corporation (MCEDC) press release on the bond issuance, the 20-year bonds that have been allotted are expected to be paid by users, which will include local governments, private businesses, schools, libraries, and hospitals. According to MCPA Chair Ron Paydo, these establishments have already made promises to pay off the bonds.
The new fiber optic loop will be made over an 18-month period by Cleveland-based OneCommunity, an organization that also successfully spearheaded a venture to win federal grant funding for the network’s establishment. Because of OneCommunity’s endeavors, the “Medina County Fiber Network,” as it has been named, will receive $1.5 million in broadband stimulus grants that were supplied to OneCommunity in 2010 to fund a regional fiber build.
Designing of the network has already begun, and the first part of the fiber network is anticipated to be activated during the summer of 2011. The MCEDC, a private non-profit organization responsible for the economic development of Northeast Ohio’s Medina County, will aid in marketing the network and attracting private sector users.
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