Tax Abatement Committee approves Riverwood certification for 106 Lakeview Avenue in New Canaan

The Tax Abatement Committee voted unanimously June 24 to approve a tax-abatement certification for Riverwood, a property at 106 Lakeview Avenue in New Canaan. Committee members said the certified tax total tied to the abatement is $350,925.25, with the first installment due July 1 (with a 30-day grace period) and the remaining amount due Jan. 1, 2027.

Committee Chair opened the special meeting at 8:34 a.m. and asked Sebby, a staff member, to summarize the item. Sebby said the purpose of the meeting was to approve the certification of the tax dollar amount submitted by Riverwood and that the town would later verify the figure against audited financial statements. A committee member on the line (Scott) said the audited returns should be available “sometime soon” after Riverwood’s first full year; members agreed to arrange an offline schedule to receive final financial statements and reconcile any differences.

The committee discussed the town’s true-up process: Riverwood submits its certification to the town office (referred to in the meeting as Sevi’s office) and, after audited financials are finalized, the town will adjust future bills to reflect actuals—either charging an additional amount or issuing a refund. Committee members said the special meeting was required because Riverwood’s certification arrived a few days late; otherwise the approval could have been handled without a special session.

Mike moved to approve the tax abatement for Riverwood as described in the town agreement; Todd seconded the motion. The motion carried with an affirmative voice vote recorded as unanimous. Earlier in the meeting, members also approved the special-meeting agenda and the minutes from June 18, 2025 (Lavieri abstained from the minutes vote because she was not present at that prior meeting).

The committee directed staff to confirm timing for audited financial statements and follow up with any adjustments necessary at reconciliation in the January billing cycle. The special meeting then adjourned.