From Vision to Closing: How Kendall County's $46 Million Deal Validated the P3 Broadband Playbook

When Pivot-Tech responded to Kendall County's Request For Proposal in May 2023, there was no finished template to follow. The 63-20 nonprofit bond model had been used in other contexts—municipal parking garages, civic facilities—but never at this scale for a greenfield broadband deployment combining a state grant with tax-exempt revenue bonds. What followed was a 30-month journey through genuinely uncharted territory. The path to closing required educating state agencies on a structure they'd never evaluated, navigating competing regulatory frameworks, assembling a specialized legal and financial team, and spending nearly $1 million in professional fees just to build the legal architecture. Most companies would have walked away. Pivot-Tech stayed—because CEO Jim Cannon knew that proving this model once would make it infinitely repeatable. In early 2026, the Fox Fiber broadband network closed $46 million in financing. The model works.