RANCHO SANTA FE — The Rancho Santa Fe Association is continuing to keep its members informed of its fiber-optic project. RSF board member, Allen Finkelson, shared that the Association was still in negotiations with Hotwire Communications in terms of what will be the actual service offerings, revenue splits, and other assorted items.
“The LOI (Letter of Intent) we signed provided for certain services and we have asked them for a broader range of service offerings and we’re still in discussion with them on what that will look like, both in terms of their economics and our economics,” Finkelson said.
The LOI with Hotwire Communications underscored the construction of a community-owned fiber-to-the-home network providing members with the fastest technology available. This proposed fiber optic network ranges from 1 gigabit Internet service to a 10 gigabit Internet option to every home in the Covenant.
Finkelson went on to say that he hoped by the next board meeting that things would be more crystallized.
A combined effort by the Technology, Finance and other committees continue to push forward in the process.
“Hopefully, we will bring this negotiation phase to an end sooner than that, but it’s been a time-consuming process and we’re still in a state of flux,” Finkelson said.
Finkelson also added that the Association’s two consultants on the project, Magellan Advisors and Peace & Shea, have agreed that for the moment they will not be charging the Association any additional money until the negotiations are concluded.
“If we end up coming up with some other variation on the fee, which is a possibility, then we will have to decide what arrangements are appropriate and with whom they are appropriate,” Finkelson said. He added, “But for the moment, no additional monies have been incurred with respect to either of the advisors.”