HomeMy WebLinkAbout09/06/2017 5DAGENDA BILL
CITY OF BREMERTON
CITY COUNCIL
SUBJECT: Resolution No. 3293 to grant
Consent and Approval of Owner Transfer
from Wave Holdco, LLC to Radiate
Holdings, L.P.
Study Session Date:
COUNCIL MEETING Date:
Department:
Presenter:
Phone:
_August 23, 2017
_September 6, 2017
Finance - BKAT
Char Burnette
(360) 473-5011
SUMMARY: WAVE Broadband holds a cable franchise agreement with the City of Bremerton.
Section 15 Franchise Transfer of the agreement requires the Cable Company to notify the City of a
change in ownership, that the buyer can show financial, legal and technical ability to continue the
franchise, and City Council consents to the transfer of ownership by resolution. Radiate Holdings, L.P
has entered in to an agreement to acquire all outstanding membership interests of WAVE
Broadband's parent Company, WAVE Holdco, LLC. Legal, Finance and BKAT have reviewed the
documents finding form FCC 394 to be in order. Radiate Holdings, L.P. intends to honor the current
Franchise Agreement with no changes, and has the ability to continue cable service. Staff
recommends approving the transfer of ownership.
ATTACHMENTS: BKAT memo, Letter from Wave Holdco, LLC and Radiate Holdings, L.P
Resolution No. 3293 granting consent and approval of the City of Bremerton to change ownership.
FISCAL IMPACTS (Include Budgeted Amount): No Financial Impacts
STUDY SESSION AGENDA: ® No Presentation ❑ Full Presentation
STUDY SESSION ACTION: M Consent Agenda ❑ General Business ❑ Public Hearing
RECOMMENDED MOTION:
Move to adopt Resolution No. 3293 to grant consent and approval of owner transfer from Wave
Holdco, LLC to Radiate Holdings, L.P.
COUNCIL ACTION: [Approve
Form Updated 01/07/15
❑ Deny ❑ Table ❑ Continue ❑ No Action