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City approves up to $1 million interfund loan to support Traverse City Light & Power smart-grid project
Summary
The commission authorized a contingency interfund loan of up to $1 million to support the TCLP smart-grid and fiber project; staff said procurement savings and a general-obligation bond will cover most costs, and the city loan will act as a local, flexible contingency.
The Traverse City Commission authorized an interfund loan of up to $1 million on Oct. 20 to support the current smart-grid and municipal fiber expansion being built by Traverse City Light & Power (TCLP).
City and TCLP staff briefed the commission: the build will enable fiber connectivity to roughly 73% of the utility’s customer…
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