Google to acquire Provo, Utah’s fiber, transform it into Google Fiber | Ars Technica

Check the full article for more details on who's paying for what

"Interestingly, Google isn’t laying its own fiber this time, but rather purchasing an existing network.
“In order to bring Fiber to Provo, we’ve signed an agreement to purchase iProvo, an existing fiber-optic network owned by the city,” the company wrote in a blog post. “As a part of the acquisition, we would commit to upgrade the network to gigabit technology and finish network construction so that every home along the existing iProvo network would have the opportunity to connect to Google Fiber. 

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UPDATE 9:00pm CT: According to the Salt Lake Tribune, Google is only paying $1 for the entire network, in exchange for upgrading it and incorporating the remaining two-thirds of city residents that are not connected to it."

Google to acquire Provo, Utah’s fiber, transform it into Google Fiber | Ars Technica