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`�' �� - <br /> s ecific concessions from RCN. Given the fact that RCN's arent com an is in �✓ <br /> p P P Y <br /> bankruptcy, it is not clear that doing so will provide any additional benefits beyond those <br /> contained in this recommendation. <br /> Fiscal Impact <br /> Should RCN not complete Significant Cable System Construction in each of the next five <br /> years, the City will receive $10,000 per year in payments from RCN's performance bond up <br /> to such time as the City has received $50,000 in cumulative payments. With respect to <br /> franchise fees paid by RCN and utility users' taxes collected by RCN, staff does not <br /> foresee any substantial changes to these revenues regardless of RCN providing services <br /> to our community as these amounts will likely be paid and collected by Comcast, the other <br /> franchised cable operator in Redwood City, should RCN cease operations. <br /> RCN will be required to maintain the fiber optic network while the costs for developing, <br /> operating, and maintaining the applications that cities deploy over this network will be the <br /> responsibility of the cities using such applications. <br /> , "� <br /> : <br /> Brian Ponty Edward Everett <br /> Director of Finance and Financial Planning City Manager <br /> Attachments: <br /> Attachment I— Ordinance Amendment No. 1 to Cable System Franchise <br /> Attachment II — Franchise Agreement Amendments <br />