Google paying $1 to run Provo fiber, must build it out within five years

While it's well-established that Google Fiber's expansion into Provo, Utah hinges on Google buying the city's existing iProvo network, we didn't immediately learn what it took to land the tentative deal. Newly available details of the agreement reveal that the up-front cost is largely in the visitor's favor -- it's the long-term development that rewards the locals. Google only pays $1 to buy the local fiber network, but it has five years to finish upgrades and deployments that could ultimately cost $30 million, according to the Deputy Mayor's estimates. About the only remaining costs for Provo are its already existing (if significant) development loans, and the city can always buy the network back for $1 if things go sour. The pact also leaves the door open to public WiFi, although there are no guarantees that Google will mirror its New York City efforts anytime soon. When the search giant has a very healthy bank balance, we doubt there will be much quibbling over the exact terms; just know that the arrangement isn't strictly one-sided.

Filed under: Networking, Internet, Google

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Source: AP

Source: http://www.engadget.com/2013/04/19/google-paying-1-to-run-provo-fiber-must-build-it-out-within-5-years/

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