Note 12 - Broadband Grants |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Notes to Financial Statements | |
| Government Assistance [Text Block] |
Note 12 – Broadband Grants
In August 2022, the Company was awarded a grant from the United States federal government. This Low-Density Broadband grant will provide up to 75% of the total cost of building fiber connections to homes and businesses for improved high-speed Internet in unserved and underserved communities in the Company’s service area. The Company is eligible to receive $3,210,000 of approximately $4,280,000 total project costs. The Company will provide the remaining 25% of the matching funds. The Company has received $0 for this project as of June 30, 2026.
On November 21, 2023, the Company was awarded a grant from Goodhue County in Minnesota. This Low-Density Broadband grant will provide $277,733 of the total cost of building fiber connections to homes and businesses for improved high-speed Internet in unserved and underserved communities in and around Goodhue County. The Company has received $0 for this project as of June 30, 2026.
On March 5, 2024, the Company was awarded a grant from the Minnesota Department of Employment and Economic Development (DEED). This Low-Density Broadband grant will provide up to 75% of the total cost of building fiber connections to homes and businesses for improved high-speed Internet in unserved and underserved communities in the Company’s service area. The Company is eligible to receive $1,884,429 of approximately $2,512,572 total project costs. The Company will provide the remaining 25% of the matching funds. The Company has received $1,145,401 for this project as of June 30, 2026.
On December 8, 2022, the Company was awarded four broadband grants from DEED. The grants provided up to 45.0% to 50.0% of the total cost of building fiber connections to homes and businesses for improved high-speed Internet in unserved and underserved communities and businesses in the Company’s service area. The Company was eligible to receive $8,594,688 of approximately $18,139,749 total project costs. The Company provided the remaining 50.0% to 55% matching funds. Construction and expenditures for these projects began in the spring of 2023 and were completed in 2025. The Company has received $8,594,688 for these projects as of June 30, 2026. |