TRAVERSE CITY — A loan of up to $1 million from one Traverse City fund to another will help the city-owned utility finish its fiberoptic network.

City commissioners agreed Monday to lend that much over 10 years for Traverse City Light & Power’s ongoing project. The city-owned utility is in the second phase of expanding the network across city limits. Once done, it’ll serve two purposes: a broadband network for customers, and the backbone of the utility’s smart grid for real-time energy use tracking and management.

See Full Page