Pownal CAP Committee reelects officers, weighs investing $400K more

The Pownal Capital Improvement Planning Committee held its first meeting of the new planning season on September 30, 2026, reelecting Paul Schuman as chair and Teresa Loughran as vice chair. Town Administrator Becky Taylor Chase reported that $500,000 invested in a CDAR about nine months ago has earned roughly $11,500 in interest, and she proposed investing another $400,000 held at TD Bank. The committee also reviewed plan assumptions, the asset schedule, and ADA compliance requirements for recorded meetings.

Key points

• Paul Schuman was reelected committee chair, Teresa Loughran was elected vice chair, and Kyler Eagles was elected committee scribe.
• The committee approved the minutes of the March 25 meeting.
• Town Administrator Becky Taylor Chase said $500,000 moved into a CDAR about nine months ago has earned about $11,500 in interest, versus a lower rate at TD Bank, and proposed investing an additional $400,000 now held at TD.
• Committee members raised questions about FDIC insurance limits on amounts over $250,000; Chase said she would get details from the bank.
• The committee reviewed plan assumptions, including updating the bond interest rate to about 4 percent and setting the capital reserve interest rate at 3 to 4 percent.
• The only item planned for expenditure this year is a $95,000 air compressor system, which members expect may be deferred.
• The committee agreed to move the November 25 meeting to December 2 and the December 30 meeting to January 6.
• Chase briefed the committee on new federal ADA requirements, including closed captioning, describing on-screen documents aloud, and making the town website and PDFs accessible within about 15 months.

Next steps

• Chase will meet with her TD Bank representative to work out details of investing the additional $400,000, including insurance coverage, and will report back.
• Schuman will update the plan documentation using AI to make it simpler and friendlier, then share it with the committee.
• Schuman will send department heads the asset list and presentation guidance within about a week.
• The committee will review comprehensive plan strategies at its next meeting on October 28 at 6:30 p.m.; Schuman said he will likely be absent.
• Department head presentations are expected in December and January.

Read the full transcript