HomeMy WebLinkAboutAgenda Bill 07/18/2012 AGENDA BILL
CITY OF BREMERTON
CITY COUNCIL
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SUBJECT: Adoption of Resolution No Study Session Date 7/11/12
in5granting consent and approval of COUNCIL MEETING Date 7/18/12
owner transfer from Sandler Capital Department City Clerk
Management to Oak Hill Partners (franchise Presenter Shannon Conn
agreement) Phone 473 -5323
SUMMARY: Wave Broadband holds a cable franchise agreement with 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 Wave Broadband's parent company,
WaveDivision Holdings, LCC intendeds to change equity partners from Sandler Capital Management
to Oak Hill and GI Partners, essentially changing ownership of the company Legal, Finance and
BKAT have reviewed the documents finding form FCC 394 to be in order, the buyer intends to honor
the current agreement with no changes, and the buyer has the ability to continue cable service Staff
recommends approving the ownership transfer
ATTACHMENTS: Council Memo, BKAT Memo, Letter from WaveDwision Holdings, Resolution No
31) granting consent and approval of the City of Bremerton to change of control transaction
FISCAL IMPACTS (Include Budgeted Amount) There is no change to the budget
APPROVALS:
DEPARTMENT DIRECTOR
CITY ATTORNEY
FINANCE DIRECTOR
MAYOR
RECOMMENDED MOTION:
Move to adopt Resolution No ranting consent and approval of the City Bremerton to change
of control transaction
STUDY SESSION ACTION: Consent Agenda ❑ General Business ❑ Public Hearing
COUNCIL PRESIDENT g Z- c_
COUNCIL ACTION: �pprove ❑ Deny ❑ Table ❑ Continue ❑ No Action
Form Updated 11/02/2011
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