In a recent government meeting, officials discussed the approval of a tax abatement for Avalon, a property located at 106 Lakeview Avenue in New Canaan. The proposed tax abatement is contingent upon the successful transfer of the property to the New Canaan Housing Authority, in accordance with Connecticut General Statute 8-215 and local town code.

Currently, Avalon contributes approximately $535,336.98 in property taxes. However, projections indicate that the tax revenue could decrease to around $401,000 following the abatement, resulting in an annual loss of about $135,000 in tax income. Despite this reduction, officials noted that the initiative could significantly enhance affordable housing options within the community.

The meeting also addressed a minor correction regarding the property address, which was confirmed to be 106 Lakeview Avenue instead of the previously stated 100. The discussion highlighted the balance between potential financial impacts and the community's need for affordable housing solutions.