Tagged: Metronet

West Lafayette officials have postponed the sale of a vacant lot on Salisbury Street, just south of Sycamore Lane.

Metronet bid a little more than $27,000 for the property.

The lot would be used to build a structure to house the equipment and servers for a proposed fiber-optic network.

Metronet says offering high-speed television, internet, and telephone services will make West Lafayette more attractive to businesses and people looking to move to the area.

A process to bring a fiber optic network to homes and businesses in West Lafayette is taking another step forward.

The city’s Economic Development Commission signed off on $2.5-million in bonds for Metronet to install the infrastructure.

Chairman Bill Baitinger believes this type of project will help attract more business to the community.

The city council and redevelopment commission still must approve the bond issuance, which is expected before the end of the year.

The effort to run a fiber optic network to every home and business in Lafayette and parts of Tippecanoe County has taken a significant step forward. That’s according to the company making the effort.

The Lafayette Economic Development Commission is recommending the city council approve a bond for the Metronet project.

Company consultant Steve Biggerstaff says the city would not be liable for the bond, which is needed to start the work.

A feasibility study indicates a proposed fiber optic network for Lafayette and West Lafayette would be profitable.

That’s according to Metronet officials, who say in order for the project to move forward the company must finalize the establishment of Tax Increment Financing districts.

Spokesperson Steve Biggerstaff says that will enable Metronet to secure bonds for startup costs.

He says the goal is to start serving customers in February.

Biggerstaff says a similar review is still being conducted in unincorporated parts of Tippecanoe County.

Lafayette is setting up a Tax Increment Financing District to help a roughly $40-million project get off the ground.

The city’s Redevelopment Commission voted to establish the TIF  to allow Metronet to move forward with its fiber optic network.

Redevelopment Director Dennis Carson says that type of infrastructure is important for the future of local business.

Metronet president Steve Biggerstaff says the TIF comes at no expense to the city or residents because the company and its investors will pay for the entire project.

The city of West Lafayette is moving forward with plans for a fiber optic network.

However the details of the project have changed.

Initially Metronet officials asked the city to partner with Lafayette and Tippecanoe County to create a tax increment financing district that would enable the company to secure a bond for startup costs.

The Lafayette Redevelopment Commission would have been the lead agency.

But the West Lafayette Redevelopment Commission voted today to establish its own TIF district so it would have more direct input in the process.

The city of West Lafayette is a little closer to endorsing a proposed fiber optic network throughout the county.

The Redevelopment Commission has given its approval for Metronet to move forward with an engineering study on the project.

Commission President Larry Oates says he originally was inclined to vote against the measure, but admits his opinion changed after getting more background about the company.

Oates says public comment at a meeting last week was overwhelmingly in favor of the fiber-to-the-premises effort.