Sen. Guglielmo Releases Statement Re: Approval of Crumbling Foundations Remediation Funds

HARTFORD, Conn. – State Senator Tony Guglielmo (R-Stafford) released the following statement regarding the Bond Commission’s approval today of the first installment of funding to assist homeowners with crumbling concrete foundations.

The commission approved $350,000 to provide the initial capital required under state law to license the captive insurance company that will distribute the remediation funds to homeowners.

“I am relieved to see the first step in our plan to help folks with crumbling foundations move forward today,” said Sen. Guglielmo. “I have been working with local leaders and homeowners within my district for years now and I empathize with them that this process cannot move quick enough. At the end of the day we are making progress to help these homeowners and starting to fix this horrible problem. To that end, we must remain vigilant in watching this private entity and make sure that they are giving the homeowners the relief they so desperately need.”

Additionally, the commission approved a measure expanding eligibility for a previously approved $5 million in funding for foundations testing. Approved in February of 2017, the funding was earlier only available to households within 20 miles of J.J. Mottes Concrete Company in Stafford Springs. The change allows the Department of Housing Commissioner to approve reimbursements for households outside of the originally approved radius.

The creation of the captive insurance company was authorized through language that was included in the state budget passed in October. The captive insurance company will be in charge of administering the Crumbling Foundations Assistance Fund.