Board of Finance approves $150,000 grant for Schoolhouse Apartments repairs
Board of Finance · Meeting of July 28, 2026
New Canaan Board of Finance approves $150,000 rescue grant for Schoolhouse Apartments. The board unanimously backed the grant, drawn from interest earned on American Rescue Plan Act funds, to renovate the 156 South Avenue senior housing complex after board member Steve Hoover detailed three years of mismanagement that left payables at $100,000 and five units vacant. The nonprofit, which houses 39 low-income seniors averaging age 78, has since cut payables to $50,000 and hired new manager West Mount.
"It provides affordable housing today to 39 senior residents... who would otherwise not be able to live probably anywhere in Fairfield County," Hoover said. Separately, the board unanimously approved raising the pension benefit multiplier from 2 percent to 2.25 percent for 15 management employees, requiring roughly $517,000 in retroactive contributions over three years, pending Town Council approval. Fiscal 2026 revenue came in at $179.9 million, 102.6 percent of budget.
In the full story:
- Who Was There
- Organizations And Documents Referenced
- The complete report — 4,472 words
Source: the Board of Finance meeting of July 28, 2026, reported from the official video recording and transcript.
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