A community has to go through certain steps and conduct certain proceedings before renewal can be denied. The process is not competitive. Renewal cannot be denied simply because someone else might be willing to offer more. Yes, both legally and practically. Although most communities do renew the incumbent's franchise, several communities have successfully denied renewal.
Communities usually devote one to three years, or more, to the renewal process.
A longer period is possible but carries additional practical and legal risks. You can also require the operator to provide an institutional network providing, for example, a modern telecommunications link for schools, libraries and government. A community can also ensure that any construction of the cable system proceeds in an orderly fashion, that all parts of the community can obtain service, and that the system is rebuilt in a reasonable period of time. The franchise term can also be established through the renewal process renewals do not have to be for 15 years, and often are far shorter. There are some things that communities cannot do through the renewal process.