Looks like AP&T could soon be shedding (pun unintended) the “T” aspect of the business!
As reported in the Chronicle:
In a presentation to the city’s public utilities board, officials from the city-owned Alameda Power & Telecom last week laid out the options for the public – none of which is likely to recover the $85 million the city has spent to launch and operate the service.
If that weren’t enough, Alameda, which has a general fund budget of $80 million this year, is due to make a $33 million balloon payment next year on the original construction bond.
Atleast it’s not all gloom and doom
Alameda is a place that’s always taken great pride in its ability to fend for itself, and it’s evident in city ownership of its hospital and power plant and school system – and it’s something other municipalities can strive for.