February 22, 2022 5pm-8pm
LCUB Intent to Offer Broadband Internet Services & to Develop a Fiber Optic Network
After developing a business plan and considering the analysis of its business plan by the office of the Comptroller of the State of Tennessee, the Board of Lenoir City Utilities Board (LCUB) hereby gives notice that it intends to proceed with the provision of broadband internet service, and the development of a fiber optic network to provide internet and other broadband services. The fiber optic network will also enable LCUB to provide additional services to the customers of its other utility services and continue the modernization of those utility systems. The fiber optic network will also enable LCUB’s customers to utilize the services of providers of Voice over Internet Protocol (VoIP) and other broadband services.
The broadband internet business plan anticipates extending fiber optic services throughout LCUB’s electric system service area over time. The business plan projects annual net losses for broadband operations for the first three years, and positive annual net income in all future periods. The broadband internet plan calls for capital expenditures of approximately $22 million for equipment for the internet system and related installations. LCUB will also expand its electric system fiber optic network. LCUB’s broadband operations will pay, at a minimum, its allocated portion of the costs of the fiber optic network. LCUB anticipates using inter-division loans to provide necessary working capital for the broadband internet system.
The Board of LCUB has determined that LCUB’s provision of broadband internet service, in connection with the construction of the fiber optic network, should benefit the City of Lenoir City, Tennessee and the surrounding area through the availability of new and enhanced services, as well as the enhancement of economic development efforts and quality of life in this area.
The Board of LCUB has scheduled a public hearing on February 22nd, 2022 from 5pm-8pm at The Venue at Lenoir City located at 7690 Creekwood Park Blvd, Lenoir City, TN 37772. Attendees will be permitted to provide comments on the project. To discuss auxiliary aids or services needed by persons with disabilities in order to facilitate participation, those persons with such disabilities may contact LCUB at 844.687.5282, press 5, then 6. The Board of LCUB also invites interested members of the public to submit written comments for the Board’s consideration. Written comments will be received for fourteen calendar days after the public hearing and should be either hand-delivered to LCUB’s main office or mailed to the Board of LCUB at 7698 Creekwood Park Blvd. Lenoir City, TN 37772.