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Lorain staff say contractor credits are offsetting much of city’s convenience-fee expense; council discusses policy change
Summary
City staff told the finance subcommittee that contractual arrangements with JPMorgan Chase/Paymentus let the city use account credits to offset convenience fees, reducing the general-fund expense; council members discussed whether to pass fees to customers or keep absorbing them to reduce lobby traffic.
Lorain finance staff told the subcommittee their payment contract structure has reduced the amount the city pays directly for credit-card convenience fees and that officials are exploring whether to make fee practices more uniform across departments.Council members asked why convenience-fee expenses appear low in recent years; a finance representative explained the city budgets the full contractual maximum ($160,000) but uses…
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