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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 /> 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 MPrpdith 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 />