Erie County To Borrow For Budget

The Erie County Legislature has given its approval for the Comptroller's Office to borrow as much as $110 million.

The County Comptroller says cash for right now is okay, but the money will be needed later.

Erie County Comptroller Mark Poloncarz says, "This just gives us an opportunity to borrow money on a short term basis no more than a year to pay off expenditures that we anticipate that we will be paying at the end of the year."

Poloncarz says he expects to receive very competitive rates from the banks with the approval for the loan.