"Theocratic direction" now is that the LDC makes ALL decisions about if / when a new Kingdom Hall is needed.
Previous to the LDC was the RBC who it seemed, had similar 'authority'.
I recall one congregation I had been associated with previously. While a high percentage if not a majority of the cong voted to renovate the existing building, everyone was told by the elders that the RBC decided a new building was needed, so that was how it was to proceed. It was that cong's members that were then paying the associated costs even as the payment of regular monthly expenses was often questionable.
Perhaps the old RBC could only offer recommendations or advice while the local elders & CO may have been able to accept or ignore that advice, IDK.
Doesn't matter if they have raised a million dollars; if they try to build a KH without LDC input they will be disciplined for "not following theoratic direction".
If everything over $5K is "donated" to WT (as regularly audited by the CO), they then would not have any local money to do anything major.