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City Council discusses the future of Burlington Telecom - WCAX.COM Local Vermont News, Weather and Sports-

City Council discusses the future of Burlington Telecom

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BURLINGTON, Vt. -

It was a Burlington City Council meeting that happened behind closed doors Monday, as members discussed the future of Burlington Telecom. The city recently settled a $33 million lawsuit with Citibank over the utility company forcing the city to pay more for new borrowing.

"We have been working toward the next very substantial milestone in that agreement, which requires the city to find a bridge financing source for $6 million of the $10.5 million settlement," said Mayor Miro Weinberger, D-Burlington.

Weinberger says the city has finally landed commitments from two different financial institutions that would provide the $6 million to start paying the settlement. A vote on the two proposals was put on hold until Wednesday.

"That conversation tonight was not fully conclusive. There were some questions that came up that require some additional work on the part of the administration and the consultants before the questions can be fully answered," Weinberger said.

With many unanswered questions, some Burlington residents are concerned that these discussions are happening behind closed doors.

"The whole fiasco that they got into with Burlington Telecom happened because they did everything behind closed doors. Everything was executive session, executive session. And we thought the new administration was going to be open and honest-- and it's more of the same," said Fred Osier, who sued Burlington Telecom.

Although there were concerns about the meeting being closed door, the city's attorney said that the move was not intentional -- it was merely to protect Burlington during active litigation.

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