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BERNICK AND LIFSON <br />A PROFESSIONAL ASSOCIATION <br />various physical discrepancies which could be immediately resolved. <br />Additionally, CSC supplemented its initial report with an addendum <br />which is attached hereto as Exhibit C and made a part hereof. <br />CSC determined that the electrical performance of the system <br />should be graded "B ", "Above average achievement; Exceeds most <br />cable operators." The consultant later acknowledged that the "B" <br />grade was one of the highest he had given a cable system of the age <br />of this system. <br />Given the age of the plant and the extreme temperature swings <br />the plant is subjected to, CSC graded the physical plant of the <br />system also a "B." <br />A majority of the technical report went on to identify <br />specific concerns or issues with which the City would have to deal. <br />Attention is directed to the actual report appended hereto for <br />further reference regarding specifics, but suffice it to say for <br />the purpose of this report, that each technical discrepancy has <br />been reviewed by staff and the Commission. Each discrepancy has <br />been either resolved, recommended to be waived, or negotiated as <br />part of the approval process. <br />Based upon a review of the information provided by the <br />proposed owners, the technical analysis, North Central's written <br />response to the technical analysis, and the above discussion, it <br />would appear that the Commission could not reasonably withhold <br />approval of the transfer based upon the technical ability of <br />Meredith, its principles, and the remaining management team of <br />Cable TV North Central. <br />VI. <br />FINANCIAL STABILITY <br />The financial stability factor relates to whether Meredith has <br />the financial resources available or committed to not only acquire <br />the system, but also whether its financial plan as presented is <br />reasonable and economically viable. The Commission has engaged Jay <br />Smith of Public Knowledge to conduct the financial analysis of the <br />transaction. That report is attached hereto as Exhibit C and made <br />a part hereof. Reference should be made directly to the report for <br />a complete understanding of the financial analysis. Mr. Smith also <br />appeared at a public hearing to orally present his report. That <br />presentation was also taped for future review. <br />7 <br />Page 79 <br />