Deadline and details of broadband stimulus funds released

Telcos seeking broadband stimulus funding can begin submitting their applications July 14 and will have until Aug. 14 to apply for the first round of funds, according to a Notice of Funds Availability issued today by the Rural Utilities Service and the National Telecommunications and Information Administration.

The agencies expect to award about $4 billion in this round, with two additional rounds of a similar size to follow. The total amount that the agencies expect to award exceeds the $7.2 billion award amount specified in the American Recovery and Reinvestment Act passed early this year because the RUS anticipates awarding a mixture of loans and grants. As a senior administration official for the RUS told reporters on a conference call today, a lower amount of appropriated dollars can support a higher amount of loans because the loans eventually will be repaid. All NTIA-awarded funds will be in the form of grants...