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Wilmington CBT commissioners review CATV fund shortfall; staff to meet with DETV on alternatives
Summary
Commission staff presented a five‑year financial outlook showing a projected shortfall in the city’s CATV fund; commissioners discussed four scenarios to reduce the draw on reserves, and staff scheduled follow‑up talks with third‑party operator DETV to explore viable operating arrangements before TPO and lease expirations in late March.
Michelle, a city staff member overseeing the CATV fund presentation, told the Wilmington Cable, Video & Telecommunications Commission on Feb. 18 that the commission faces a multi‑year shortfall and must consider options to preserve the fund balance.
“Right now, we have $2,300,000 in our savings fund for the CATV fund,” Michelle said, and then outlined projected five‑year figures presented to the commission: projected franchise fees of roughly $3.5 million over five years; expected WITN costs of about $5.6 million over five years; and current third‑party operator (TPO) costs and projections that create a funding gap the staff calculated as roughly $2.1 million over five years. Michelle said the current five‑year projections would require drawing on the $2.3 million reserve each year.
To reduce the projected draw on reserves, staff presented four scenarios: 1) eliminate city payments for the TPO (leaving only WITN costs), which staff said would reduce…
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