Archive for November 2nd, 2012

$400K to get to Fiber Optic: NWP Library Offers Matching Grant

This is a press release sent out by David Brown, Woodstock’s Representative to East-Center Vermont Fiber Network, the group trying to raise funds to install a fiber optic cable network in Woodstock. The Norman Williams Public Library has agreed to host a “hub”. However, the funds for such an install are still to be raised. ECFiber and the NWPL are hoping to reach a goal in the next month, according to this release — WEB

 

Woodstock, Vermont – November 1, 2012 – The Norman Williams Public Library today announced the offer of a $100,000 matching grant earmarked for the construction of a fiber-optic hub inside the library building in downtown Woodstock.

Last month, the East Central Vermont Fiber Network (ECFiber) agreed enter into a 25-year lease with the library’s Board of Trustees to build the hub and to provision the library with free gigabit fiber-optic Internet service for the term of the lease.

ECFiber is a community-owned, subscriber-funded high-speed data network dedicated to providing fast fiber-optic Internet service to every resident, business, and institution in its 23 member towns. The town of Woodstock voted to join ECFiber on March 3, 2008.

ECFiber raises the funds it needs to expand its network by selling 15-year promissory notes. Last week ECFiber kicked off a capital campaign designed to raise the entire $400,000 needed in Woodstock by December 3rd.

When announcing the matching grant, Jennifer Belton, the library’s Executive Director commented “I know this is a lot of money to raise in a short period of time but, if we can we can pull it off, we’ll be in position to turn the Norman Williams Public Library into a state-of-the-art learning institution.”

In their offer letter, the grantors (who wish to remain anonymous) commended Belton for her efforts to transform the library into a vital component of the Woodstock community, adding “We recognize that just a month remains for other investors to take advantage of our offer. However, we believe there are other friends of the Library out there who can join together to help make your dream of a world-class public library a reality.”

ECFiber is a municipal entity, so owners of ECFiber promissory notes receive interest income that is free from federal and Vermont income tax.

Anyone interested in participating in the Woodstock capital campaign – and taking advantage of the $100,000 matching grant – should contact ECFiber at (802) 763-2262 before December 3rd.