In just a matter of hours, Erie City Council is scheduled to vote on an ordinance involving funds that seek to help businesses in the city.
The $65,000 ordinance is from some of the interest generated out of the city’s revolving loan funds.
If approved, this will assist with the Flagship and Commodore Funds. Each of these are designed to help build projects for businesses of all sizes.
“It’s good that this is self supporting, that this does not effect the city’s operating budget. It’s solely whats generated internally with the activity that we are doing, so we are trying to support more development and lending,” said Chris Groner, Director, City of Erie.
Groner further explained if approved, $15,000 of this will go to the Flagship Fund. The other $50,000 will go to the Commodore Fund.