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Finance committee approves five‑year Verizon cable franchise renewal, 3‑0
Summary
The Finance & Revenue Committee approved a five‑year franchise renewal with Verizon after staff negotiated with other municipalities and counsel; the committee noted franchise fees are pressured by cord‑cutting and streaming.
The Finance & Revenue Committee approved a five‑year franchise renewal agreement with Verizon on a 3‑0 vote.
A committee member said Verizon sought a shorter term than the prior 10‑year agreement and that the borough joined other municipalities for joint negotiation and legal representation. "The length of this agreement will be five years," the member said, noting the longer term had been common previously.
Committee discussion emphasized a steady decline in franchise‑fee revenue as more consumers drop paid video services and switch to streaming. Committee members called the renewal a negotiated, short‑term agreement that reflects those market changes.
The motion was called, public comment was invited and none was offered; the committee recorded the approval as 3‑0 on the dais.
