The city of Erie could bring in financial help soon in relation to a large portion of the $96.7 million lump sum payment the city received in October.
Mayor Joe Schember’s administration and members of Erie City Council are talking about soliciting proposals from financial and investment managers “to give us a professional opinion on how to move forward” with the bulk of that money in terms of management strategies and potential investments, councilman David Brennan said.
Brennan said city Finance Director Paul Lichtenwalter has discussed such a move with City Council but nothing has been finalized.
“We’re being cautious about the next move, but I would expect to see this happen as we move forward,” Brennan said.
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