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Council adopts first reading for Cumulative Capital Development fund ordinance
Summary
Ordinance 5-20-25 to establish the Cumulative Capital Development (CCD) Fund and readopt city code provisions passed first reading unanimously. Controller said the fund is supported by a 5-cent property tax levy and brings roughly $600–700K annually.
The West Lafayette City Council voted unanimously on Feb. 3 to approve first reading of Ordinance 5-20-25, which establishes the Cumulative Capital Development (CCD) Fund and readopts city code provisions related to that fund.
City Controller Peter Gray told the council the CCD fund typically collects a property-tax levy equivalent to 5 cents per $100 of assessed value and that the levy brings in roughly $600,700 annually. He said the fund is used mainly for the information technology department and for capital purchases such as furniture and equipment.
The ordinance passed first reading by roll call: Blanco; Burr; Dennis; Lee; Parker; Sanders; and Veta Manis recorded ayes. The presiding officer announced seven yeas and no nays. The ordinance remains at first reading and will return for the statutorily required second reading.
Controller Gray and councilors did not identify further changes to levy rates at the meeting; the item was presented as the annual step to maintain the CCD fund for capital needs.
Clerk roll call recorded seven ayes with no nays and no abstentions.
