MINET TURNS A PROFIT; NEW PURCHASE POWER
By Anne Scheck
MINET has had its first year of profitability, thanks in part to company services that have been purchased by Willamette Valley Fiber (WVF), according to the telecom’s longtime auditor, who reported the gains at the last MINET board meeting.
MINET received fees by WVF to compensate it for operating the network; MINET also provided guidance and assistance during WVF’s start-up period, noted Thomas Glogau CPA, the accountant who has been conducting MINET’s annual financial reviews for many years.
Due to the expansion into Dallas under the name of WVF, “MINET has finally turned an annual profit and at the same time finally started reducing its debt,” stated John Cooper, director of finance for the company. “This is a huge milestone for any company, especially in the telecom industry.”
However, subscribers to MINET seems to have reached a plateau in Monmouth and Independence -- it appears unlikely the customer base will increase significantly in the two cities. The municipal fiberoptic’s penetration “currently hovers around 78-80% which is 20-30% above the industry standard,” according to Mr. Cooper.
Subsidization by cities to MINET should decrease this year, and if the current trend continues, will diminish annually. However, it's likely to be years before the money owed to the founding cities is repaid -- the company remains under obligation to repay the borrowed sums plus interest, according to outside experts who were asked about the municipal debt.
In another action at the MINET board meeting: General Manager Don Patten was given official permission by board members to “make purchases and enter into contracts and leases” that have a value greater than $75,000 but less than $125,000 in “emergency situations.”
MINET has had its first year of profitability, thanks in part to company services that have been purchased by Willamette Valley Fiber (WVF), according to the telecom’s longtime auditor, who reported the gains at the last MINET board meeting.
MINET received fees by WVF to compensate it for operating the network; MINET also provided guidance and assistance during WVF’s start-up period, noted Thomas Glogau CPA, the accountant who has been conducting MINET’s annual financial reviews for many years.
Due to the expansion into Dallas under the name of WVF, “MINET has finally turned an annual profit and at the same time finally started reducing its debt,” stated John Cooper, director of finance for the company. “This is a huge milestone for any company, especially in the telecom industry.”
However, subscribers to MINET seems to have reached a plateau in Monmouth and Independence -- it appears unlikely the customer base will increase significantly in the two cities. The municipal fiberoptic’s penetration “currently hovers around 78-80% which is 20-30% above the industry standard,” according to Mr. Cooper.
Subsidization by cities to MINET should decrease this year, and if the current trend continues, will diminish annually. However, it's likely to be years before the money owed to the founding cities is repaid -- the company remains under obligation to repay the borrowed sums plus interest, according to outside experts who were asked about the municipal debt.
In another action at the MINET board meeting: General Manager Don Patten was given official permission by board members to “make purchases and enter into contracts and leases” that have a value greater than $75,000 but less than $125,000 in “emergency situations.”
POLK COUNTY SURVEY RESULT: INTERNET NEED IN RURAL AREAS
A broadband study of rural areas by Polk County shows growing demand for internet providers outside the county’s cities. Survey respondents most often identified the company for this connectivity as CenturyLink DSL (36%), according to the results of the poll. HughesNet Satellite (7.4%) was a fairly distant second; Verizon mobile wireless (6.7%) was a close third.
AFFORDABLE HOMES CITED AS ESSENTIAL
Building homes that are affordable for young families and for recent college graduates should be a priority for the City of Independence, according to several attendees of the “2040 Vision Plan” meeting held Monday.
Ramon Martinez, the community engagement specialist for the city, kicked off the discussion by calling affordable housing an “important” issue for the future of Independence. “We certainly need it,” agreed Michael Cairns, a longtime resident and retired fish biologist. To meet that need, “I would certainly encourage ‘infill’ rather than ‘sprawl,’” he added.
Several others who participated in the meeting said smaller homes, ranging from “tiny houses” to townhomes, could help meet the niche for lower-cost home ownership. “Some of this alternative housing could create parking challenges,” observed Independence City Councilor Tom Takacs. However, the option is worth exploring, he said.
Ramon Martinez, the community engagement specialist for the city, kicked off the discussion by calling affordable housing an “important” issue for the future of Independence. “We certainly need it,” agreed Michael Cairns, a longtime resident and retired fish biologist. To meet that need, “I would certainly encourage ‘infill’ rather than ‘sprawl,’” he added.
Several others who participated in the meeting said smaller homes, ranging from “tiny houses” to townhomes, could help meet the niche for lower-cost home ownership. “Some of this alternative housing could create parking challenges,” observed Independence City Councilor Tom Takacs. However, the option is worth exploring, he said.
Dates to Note
A special meeting on Wednesday, Jan 29, at 3:30 pm. to envision the next two decades for the city will be held in the Independence Civic Center, in the event room, downstairs.
FINAL NOTE
COUNTY ADDRESSES TRANSPORTATION
An “action idea” by the City of Independence for more regional bus and transit activity already is underway, according to recent reports at the Polk County Board of Commissioners. The topic, which was one focus of Independence’s 2040 Vision Plan meeting, was addressed at the most recent commissioners’ meeting by Roxanne Beltz, trip choice coordinator for Cherriots and by Brent DeMoe, family and community outreach director for Polk County. Ms. Beltz introduced the state’s “get there” online tool, which helps commuters by enabling people to create carpools and find riders with matching destinations; It has grown to 900 participants since its launch in July. Mr. DeMoe explained that a 15-passenger bus, with space for two wheelchairs, debuted as a new part of the county transportation system; It travels to Independence from Falls City and other cities on Wednesdays.
An “action idea” by the City of Independence for more regional bus and transit activity already is underway, according to recent reports at the Polk County Board of Commissioners. The topic, which was one focus of Independence’s 2040 Vision Plan meeting, was addressed at the most recent commissioners’ meeting by Roxanne Beltz, trip choice coordinator for Cherriots and by Brent DeMoe, family and community outreach director for Polk County. Ms. Beltz introduced the state’s “get there” online tool, which helps commuters by enabling people to create carpools and find riders with matching destinations; It has grown to 900 participants since its launch in July. Mr. DeMoe explained that a 15-passenger bus, with space for two wheelchairs, debuted as a new part of the county transportation system; It travels to Independence from Falls City and other cities on Wednesdays.
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