Board approves $7,000 MetroNet settlement to end franchise agreement
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Summary
Administrator Zolfo told trustees MetroNet is exiting cable service; the company agreed to pay the village $7,000 to terminate the franchise agreement early. The board approved the settlement by roll-call vote.
The Village of Montgomery board approved a settlement with MetroNet to terminate the village's franchise agreement after MetroNet said it is exiting the cable-TV business.
Administrator Zolfo told trustees MetroNet will move to a streaming-only business model and therefore will no longer provide cable service or pay franchise fees. Finance staff reviewed the remaining term and projected future franchise-fee receipts and negotiated a one-time payment. "They are, have agreed to pay us that amount, $7,000," Zolfo said.
Trustee Brzeszka moved to approve the resolution authorizing the settlement; Trustee Youngerman seconded and the resolution carried on a roll-call vote.
The settlement ends the village's franchise relationship and authorizes village staff and counsel to sign the agreement and close the matter.
