Over 1,000 homes have gotten new foundations through a state program. There could be thousands more to go.
A family on Deer Run Trail in Manchester has the distinction of being the 1,000th to have their home’s foundation replaced through the Connecticut Foundations Indemnity Solutions Company (CFSIC).
CFSIC Superintendent Michael Maglaras said he had no idea what to expect when the program launched in 2019.
Now, with more than 1,000 foundations replaced, Maglaras said he expects it will take another six or seven years to resolve the crumbling foundations crisis, brought to light by NBC Connecticut Investigates in 2015.
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When all is said and done, Maglaras estimates as many as 4,000 homes in north central and eastern Connecticut will have new foundations.
But, he said it’s going to take more money to get there. A lot more.
CFSIC expects to receive a tranche of $25 million from the state near the end of November. Maglaras hopes to get another $100 million on top of that.
Investigations
He also hopes the legislature will extend the Healthy Homes Fund Surcharge for another six years. The $12 annual surcharge on renters and homeowners policies is set to expire at the end of 2029.
Rep. Joe Courtney (D- 2nd District) helped secure federal gap money to cover out-of-pocket costs for things like walkways and finished basements. If re-elected, Courtney also intends to re-introduce a bill that would reinstate some federal tax-relief for impacted homeowners.
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