The state legislature has approved an additional $100 million to repair homes with crumbling foundations, which is expected to end the decade-long crisis in the state, according to Connecticut Foundations Solutions Indemnity Co. Superintendent Michael Maglaras. The state’s bond package, voted on during the last day of the legislative session on Wednesday, includes $25 million for crumbling foundations in each of the next four fiscal years. The continued funding is “everything we’ve asked for,” Maglaras said. “We’re going to fulfill our mission.” CFSIC is expected to surpass 1,100 homes fixed by Labor Day, restoring equity for homeowners, and tax assessments for municipalities, which benefits taxpayers in affected towns. The work spearheaded by the captive insurance company has also created more than 225 construction jobs, and contributed to sales tax revenue due to the purchase and lease of large construction equipment, Maglaras said.
https://www.stamfordadvocate.com/journalinquirer/article/ct-crumbling-foundations-bonding-general-assembly-20362769.php