It is recognized that technology is rapidly changing and that it may become desirable to incorporate changed technology or services in this agreement. Accordingly, grantee shall be required to continuously monitor developments in cable technology and grantee and the Village may hold regular review sessions within thirty (30) days after the third, sixth, and ninth anniversary dates of the grant of this franchise agreement. All such evaluation sessions shall be open to the public.
A. Special evaluation sessions may be held at any time during the term of the franchise at the request of the Village or the grantee.
B. Topics which may be discussed at any scheduled or special evaluation session may include, but are not limited to: service rate structures; franchise fee, penalties, free or discounted services; application of new technologies; system performance; services provided; programming offered; customer complaints; privacy; amendments to this Chapter; judicial and FCC rulings; line extension policies; and grantee or Village rules.
C. Members of the general public may add topics either by working through the negotiating parties or by presenting a petition.
D. To facilitate this review, within forty five (45) days of the scheduled review session, grantee shall prepare and deliver a report to the Village describing developments in cable technology.
E. Following the review session, the Village and grantee may enter into good faith discussions to determine whether or not the system should be updated, changed, revised, or that additional services should be provided, but only if such update, change, revision or provision of additional services is economically and technically feasible, and if there is sufficient demand among the subscribers for such technology and/or services.
F. Economic feasibility shall be determined in good faith following an evaluation of the grantee's financial condition, economic waste, if any, that would occur should the changes be made, the remaining term of the franchise, and the rate of return on grantee's investment (both prior investment and proposed future investment) in the system. Grantee may require that the Village hold an additional public hearing as part of these negotiations. Grantee shall also provide the Village with financial information in order to facilitate the economic feasibility evaluation, provided the Village enters into a reasonable confidentiality agreement with grantee covering these financial materials. (Ord. 98-2054, 9-28-1998)