Bridgeport – Bridgeport mayor and Democratic candidate for governor Joe Ganim says the final approval of a bill helping Eastern Connecticut homeowners with crumbling foundations is a good start. The measure imposes a $12 annual surcharge on homeowner insurance policies to help people whose homes are falling apart through no fault of their own.
“Passing this bill is a positive step, but it needs to be the first of many steps by the state and federal governments, and insurance companies, to help remedy this crisis,” said Ganim. “This could be a $5 Billion problem impacting 40,000 homes. The insurance companies that have taken millions of dollars in homeowner premiums also need to be part of the solution. The costs of these repairs should not fall directly on the backs of Connecticut homeowners alone”
The concrete that is failing in the homes was taken from a quarry in Willington years ago. The concrete used for the foundations contained a naturally occurring iron sulfide called pyrrhotite, which can deteriorate when exposed to oxygen and water. According to the state Department of Housing, foundation replacements because of this issue usually cost between $150,000 and $200,000 per home.