Meeting with Spectrum Internet

A meeting has been held with Spectrum Internet. They are able to offer an alternative to the type of network that we have considered so far. Both networks would deliver the same level of service to the end user but we need to decide which would be in the best long term interest of the company. Spectrum are also to provide a fully managed network for us so we are exploring this possibility. Further discussions will be held before making a decision on which supplier to proceed with.

Update on Numbers to date

125 to date ~ ideally a minimum of 130 would be ideal, but it is viable at this level.

Sub Group Reports

Website and Newsletters

The website is developing nicely with the inclusion of ‘The Team’ which details the Directors, brief profile and photograph. Continual updating of the map and adding detailed News.

Newsletters are going out to all of you whom we have email addresses for, with a link to the website for more detailed information. If you know of anyone who would like to receive the newsletter please let us have their email address to be included or they can register using the form at the bottom of the page.

Company Set up and Finance

It takes at least 3 weeks to complete the Company Set Up with Companies House, because we will be a CIC (Community Interest Company) this requires additional checks to be made by Companies House, but we are almost there.

Grants and Subscriptions

Important Information  ~ Time is very limited for us to claim the grants required to help finance the scheme. We feel that the time is right to get Grant Application Forms out to every Business and Resident that have registered their interest.

It cannot be emphasised enough that we need the Grants from the Welsh Government for the scheme to be viable, this enables everyone who is eligible for the grant to receive their installation and first year’s service free of charge.

A point to note is that payment of the Grant to Myfi Ltd will only be after the successful connection and when a speed test has been submitted to Welsh Government to prove that you have the minimum speed required. Please use the two links below to download a copy of the relevant Application Form:

Business Grant Application Form

Resident Grant Application Form

Please see below for further information on completing the forms.

Investors Sought

Clearly as you can see Grants will not be paid until connections are completed, this means there is a need to raise funds in order to purchase materials, equipment and contractors as required to achieve this. Therefore, Myfi Ltd will be raising capital by selling shares. A business plan has been formulated and will be made available soon to anyone who is interested in becoming an Investor.

Myfi Ltd has a process to go through with SEIS (Seed Enterprise Investment Scheme) which, provided we are accepted onto the scheme by HMRC, offers a very generous 50% tax incentive. More information can be obtained online.

Admin and Wayleaves

As our network design progresses we can start to obtain wayleaves from landowners. In the main Farmers are happy to give Wayleaves which benefits both themselves and the community. This project would not be possible without their generosity.

Negotiations are ongoing with Newport City Council so that we can site our main cabinet at the Village Hall.

Ground Works & Civils, Technical Design & Installation

Meetings are ongoing with a selection of potential suppliers before a decision is made

Cefn Mably Liaison

Presently 20 of the 47 properties have registered an interest. A presentation is being arranged for the Residents of Cefn Mably Park to gain an increase in interest. According to BT’s website fibre to the cabinet should be enabled shortly for Cefn Mably Park, however there is an email that states this will not be happening in 2017. If Grant Application Forms are completed and accepted by Welsh Government this will secure funding and a free connection and 1 year service as opposed to the endless waiting for a BT connection which will still consist of copper to the property.

Banking Arrangements

We met with Barclays Bank on Friday 28^th September. Once the company is formed the account can be opened and we can then apply for registered ISP status with Welsh Government and can submit a pre-approval application for SEIS (Seed Enterprise Investment Scheme) to HMRC.

How do we sign up remaining properties?

There are still some properties within the Community which we would like to encourage to be a part of this project. In the future after the project is completed and all that have registered are connected, anyone wishing to apply to receive a connection will not receive grant funding as the Welsh Government Grant ends shortly and therefore it will be very expensive to connect. Presently with Grant approval the cost is nothing for the installation and first years’ service. Too good an opportunity to let pass by.

Update on Internet Connection

Ongoing meetings and discussions are being held to decide the final supplier of this service to us.

Date for Completion of Grant Application Forms

A couple of evening sessions will be held in the Village Hall on 18^th and 19^th of October at 7.30pm.

We will provide an update on our progress to date and will show you how to complete the forms to satisfy Welsh Governments criteria. We can answer any queries you may have at this time.

To qualify for the Business Ultrafast Broadband your business must be registered to your home address or it must be your principal place of work. The business can be sole trader, partnership or Limited Company.

Date for next Meeting

The next meeting will be Thursday 12^th October at 7.30pm at the Village Hall.