Mayor attempts to change BT report

The administration of Burlington Mayor Bob Kiss attempted to edit a report on Burlington Telecom's financial situation before it was made public on Wednesday. The committee which drafted the report did not include the suggested changes in the final version. The attempt by the administration to suggest alterations to the report outside of a public City Council meeting caused concern, as the committee had promised to keep its work public when it was appointed by City Council in December.
The seven-member committee, along with two outside consultants, concluded in the report that based on its current business plan, BT is not able to pay back its debt of $51 million. They also advised against the company borrowing any more money. BT's debt includes $33.5 million to CitiCapital, and $17 million to the city. The report advises that BT should separate from the city and become a private corporation after finding a joint-venture partner.
The Kiss administration maintains that borrowing additional funds for BT would allow it to gain more customers and become financially solvent. Last fall, the Kiss administration pushed for negotiations between BT and investment firm Piper Jaffray for a $61 million loan that would cover the company's debt. The committee did not accept this proposal.
Although the report is available to the public, the changes proposed by the administration are not, as they are being viewed as an extension of an executive session committee meeting. City Council will hold a meeting at 6 pm today regarding the report, which will begin with a public forum.
(Source: The Burlington Free Press)