Funding issues plague Kentucky's proposed high speed network - WPSD Local 6: Your news, weather, and sports authority

Funding issues plague Kentucky's proposed high speed network

Posted: Updated:
FRANKFORT, Ky. (AP) -

Kentucky officials say they do not know how they will pay for the state's share of a new high-speed Internet network meant to boost the struggling economy of eastern Kentucky.
    
KentuckyWired is a joint project between state taxpayers and a group of private companies to install 3,400 miles of fiber optic cables throughout the state. But a key portion of how Kentucky was to pay for the deal has fallen apart. Finance Secretary William Landrum said that could put taxpayers at risk for paying back a $289 million loan issued last year to build the project.
    
Landrum said Republican Gov. Matt Bevin's administration supports the project. But he said he does not know how Kentucky will pay for its share of the cost. He said he does not have a timeline for a solution.

Powered by Frankly