Specifications include, but are not limited to: Work with the Vermont Community Broadband Board (VCBB) and the Vermont Communications Union Districts Associations (VCUDA) to scope, evaluate, and then upon approval implement projects to captures additional funds and/or reduce the cost of borrowing the funds necessary to complete the universal service project proposals of each Communications Union District. A.) Project Kickoff Meeting - Meet remotely with State officials (VCBB Staff) and other stakeholders to develop a clear understanding of the project goals, objectives, timelines and deliverables. B.) Creating Financing Mechanisms - The consultant will be responsible for identifying potential options for alternative or reduced fee financing for the Communications Union Districts. Items to explore include, but are not limited to the following: a. Environmental Social Governance (ESG) Bonds - Evaluate the potential of using ESG bonds for broadband construction. An ESG bond is a debt security issued by an investment fund that invests in companies with high environmental, social and governance standards. These bonds could present an opportunity for the CUDs to borrow the remaining 40-50% necessary at lower interest rates resulting in savings on debt financing costs, resulting in more stable business planning and lower costs for consumers. This tool should be evaluated for new CUDs and for ECFiber (the sole CUD that has secured revenue bond debt). b. Socially Responsible Money Market Accounts to Allow Vermonters to Aggregate Investments to Support Broadband Expansion - Explore with VSECU and other financial institutions avenues for Vermonters to invest small amounts of funds into community networks. VSECU has developed a suite of “VGreen” projects allowing for funds invested to be used to funding renewable energy projects including a VGreen Money Market Account. VSECU has floated the idea of expanding the model to include other types of socially responsible investments, such as broadband.
