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Pyle, in West Valley City, said he believes UTOPIA’s outstanding debt can be covered by existing tax revenues. But his biggest concern, he said, is ensuring the network is completed so it can take on more subscribers.
Hann said his company viewed network completion as "the fundamental issue" in UTOPIA’s future financial solvency.
Who is Macquarie Capital?
Macquarie Capital is a Sydney, Australia-based investment and management firm that specializes in private-public partnerships with governments. It invests in and manages projects such as roads, bridges, cellphone towers, seaports, and gas, water and electricity projects.
Offices » The parent company, Macquarie Group, has 70 offices in 28 countries. It employs 13,900 people.
U.S. projects it has backed » Chicago Skyway, Dulles Greenway, Hawaii Gas, Elizabeth River Tunnels, and Penn Terminals.
Types of projects » Hospitals, prisons, courthouses, airports, ferries, light rail, cell towers, broadcast-transmission towers, fiber-optic trunk lines
Market capitalization » $14 billion
Macquarie Capital is conducting a feasibility study to see if it makes sense to invest in and take over the UTOPIA high-speed fiber-optic network.
If the firm agrees to assume responsibility for UTOPIA, it would pay for and manage the completion of the network to homes and businesses for 30 years. The 11 cities that are members of UTOPIA, however, would still have to pay off the initial debt from two rounds of bonds, which could total around $500 million.
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