Loveland, CO is building their own broadband network and we submitted a proposal to help finance the project.
The City of Loveland, Colorado, is committed to building a municipal broadband network; it’s a bold vision and one that Loveland recognizes as essential to competing in a 21st century economy. Equally exciting is how the City is choosing to finance the project: they will issue municipal bonds so Loveland residents can invest directly in this piece of critical infrastructure, and we submitted our proposal to help finance the project.
At Neighborly, we’ve democratized access to public finance by opening up the municipal bond market to individuals who care deeply care about improving their communities, but never before had direct access to the investments that fund vital public projects. We’re also working to lower the cost of financing public projects, helping issuers pursue more efficient and transparent transactions.
A few weeks ago, the City of Loveland took a meaningful step by issuing a Request for Proposals (RFP) for banks to help finance the infrastructure required to provide high-speed broadband services for subscribers throughout the City.
We share Loveland’s belief that connectivity is a fundamental right and that fast, reliable and affordable internet is necessary to unlock opportunity in today's economy.
Municipal broadband networks are the 21st century bridge that spur economic development, advance research, encourage innovation and create new growth opportunities for residents and businesses alike.
We’re deeply committed to empowering local residents to finance their own municipal broadband networks and we’ve even established a set of principle for how municipal broadband projects could work. So, we submitted our proposal to serve as an underwriter for this transformative municipal broadband project in the City of Loveland.
We’ve long believed in a more accessible and transparent future for public finance so we wanted to ensure that the residents of Loveland could be part of every stage of this process, have access to the information the City has in making this decision and understand the value we can bring to this project.
In the proposal, you’ll see our opening letter to the City, our underwriting experience and our unique ability to market bonds locally so Loveland residents have the opportunity to take true ownership of their broadband infrastructure.
Here are a few highlights:
- Since the establishment of Neighborly Securities in May of 2016, we have served in more than 50 municipal bond transactions, helping cities and states across the country finance world-positive projects, including Burlington, VT, Lawrence, KS, Cambridge, MA, and the states of California, Oregon and Vermont
- Our technology platform reduces the costs and complexities associated with public financing, resulting in a better deal for cities and residents
- We can lower the bond denominations — in this case to $1,000 — so buying bonds is more accessible to more people, and the City of Loveland can unlock previously untapped pools of local capital and build deeper connections with residents
The City’s process for selecting an underwriter, or a combination of underwriters, is still ongoing. City Council is then expected to vote on the bond ordinance this summer.
What Loveland is proposing is powerful — providing access to information that is open and equal by design. And by financing the project through municipal bonds, the City can ensure that this network will be built with the best interests of Loveland residents in mind. We want to help steward your vision. If you’re a resident of Loveland, Colorado, and want to invest in your city’s more connected future, sign up here to stay in the loop about this investment opportunity.
If you have questions about our proposal, or about the RFP process more generally, great! We’d love to hear from you. Feel free to email us at firstname.lastname@example.org.
If you’re an issuer looking to build next-generation municipal broadband infrastructure, learn more here.