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FINANCIAL IMPACT: There is no financial cost to the County for the implementation of this <br />franchise agreement. Cable franchise revenues are calculated as an "annual fee of five percent <br />(5%) of the grantee's gross revenues". The proposed agreement does not adversely affect <br />future franchise fee revenues. In Fiscal Year 2002-03, Orange County received a total of <br />$223,447 in franchise fees from Time Warner Cable, a cost it has passed on to its customers <br />since 1993. <br />RECOMMENDATION(S): The Manager recommends that the Board approve the first reading <br />of the Cable Television Franchise Ordinance as proposed by the negotiating team and <br />approved by the Cable Advisory Committee. A second reading and formal adoption of the <br />cable television franchise ordinance would then be scheduled for the Board's next meeting on <br />September 16tH <br />The County Attorney has advised that the Board may elect to conduct a public hearing before it <br />takes action on the second reading of the ordinance. If the Board elects to do so, the <br />procedure on September 16tH would be to conduct a public hearing first, and then consider <br />second reading with possible adoption of the ordinance/agreement as the following step. <br />