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Council holds public hearing on ordinance to reestablish cumulative capital development fund
Summary
At a Feb. 19 meeting in Nashville, the National Town Council opened a public hearing on Ordinance 2026-03 to amend Ordinance 2022-13 and reestablish the cumulative capital development (CCD) fund, including a proposed rate increase; staff described eligible uses and a second reading was scheduled.
The National Town Council opened a public hearing Feb. 19 on Ordinance 2026-03, an amendment to Ordinance 2022-13 to reestablish the town's cumulative capital development (CCD) fund and move the rate toward its statutory maximum. The chair opened the hearing for public comment after a staff explanation of the fund.
A staff member described the CCD's permitted uses: stormwater, road improvements and that half of the fund receipts are allocated to the fire department. "The money that we use for the CCD is used for stormwater drain, road improvement, and 0.5 of it goes to the, fire department," the staff member said. The staff presentation also noted the current levy was discussed on the record as roughly 0.426'0(also referenced as 0.462 in subsequent remarks) and that the ordinance would raise it toward a 5.05-cent maximum.
Resident Clint Studebaker identified himself and asked whether the town maintains a target or cap for the CCD balance and whether annual reporting is available. "Does it have a max that you try to build to in order or even a a floor for that matter that you try to maintain?" he asked. Staff replied that Brenda files annual reports to the gateway and that council reviews expenditures annually, but a specific current fund balance was not provided on the record.
Councilors and staff also discussed likely uses and costs. One council member noted that large purchases such as a fire truck could cost in the high hundreds of thousands to more than $1 million, and staff confirmed the fund can take years to accumulate for such purchases. After public comment and staff answers, the council closed the hearing and later moved to schedule a second reading of Ordinance 2026-03.
The council recorded unanimous 'aye' votes to proceed with a second reading of the ordinance; no final rate change was adopted at the meeting. The ordinance will return for its second reading at a future session when council will consider adoption.
