(Pixabay Photo/Michael Jarmoluk)

The city of Bloomington has signed a letter of intent with global infrastructure developer Meridiam to bring high-speed internet across the city through a fiber network. Meridiam says it will invest $40 million to build and operate gigabit broadband service throughout Bloomington, including the city’s low-income neighborhoods. Meridiam say it intends to begin construction next year.

“Establishing the opportunity for households across the community to access high-speed internet represents significant progress toward our digital equity goals,” said Bloomington Mayor John Hamilton. “With this LOI, we are outlining a major step to equip Bloomingtonians with the tools they need to learn, work, and fully participate in contemporary life, and at the same time advancing our city’s economic development.”

The city and Meridiam say they plan to execute a full agreement by December 31. Meridiam says it plans to contract with at least one internet service provider to use the new network to deliver high-speed services within Bloomington.

The infrastructure company says it expects to build the network without a financial commitment from the city and is seeking financial partners.