Keep BT Local

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The Keep BT Local Board has adopted the following membership shares plan as a way to strengthen and increase our bid to buy Burlington Telecom.

To start, cooperative shares will be priced at $500 with half ($250) granted to each Burlington account, with the remaining $250 payable at $5/month (or faster). Lifeline and other similar accounts will pay $1/mo and have the remaining $4/mo credited. When members leave they cannot take the $250 grant, but can take what they have paid in plus any accumulated capital credits. Assuming all 7000 subscribers stay, we expect this will bring in near $400,000 per year for at least the first four years. Assuming some growth and some members pay faster than required, this will likely bring in near $500,000 per year for four years and less after that.

This member capital being used to increase and strengthen our bid is money that members own and can get back (when they leave BT). And, with a $500 member share being half-credited to Burlington accounts, we are recognizing Burlington’s initial investment to build BT and that we require a larger membership buy-in for expansion outside Burlington.

There may be a vesting period and/or delayed repayment for accumulated capital. We recognize that this is only a working plan for bidding and projections; the ultimate decisions about membership requirements rests with the operating board.

— KBTL Board of Directors