GBA Logo horizontal- lakesideca.info Facebook- lakesideca.info LinkedIn- lakesideca.info Email- lakesideca.info Pinterest- lakesideca.info Twitter- lakesideca.info Instagram- lakesideca.info YouTube Icon- lakesideca.info Navigation Search Icon- lakesideca.info Main Search Icon- lakesideca.info Video Play Icon- lakesideca.info Audio Play Icon- lakesideca.info Headphones Icon- lakesideca.info Plus Icon- lakesideca.info Minus Icon- lakesideca.info Check Icon- lakesideca.info Print Icon- lakesideca.info Picture icon- lakesideca.info Single Arrow Icon- lakesideca.info Double Arrow Icon- lakesideca.info Hamburger Icon- lakesideca.info TV Icon- lakesideca.info Close Icon- lakesideca.info Sorted- lakesideca.info Hamburger/Search Icon- lakesideca.info
Lakesideca News

Connecticut Lawmakers Consider Aid for Homeowners With Failing Foundations

Repair loans, state guarantees on municipal borrowing, and permit fee waivers are among proposals to help hundreds of homeowners

Help for homeowners may be on the way. Legislative committees took testimony on bills that would help homeowners with foundations that are failing because of the presence of the mineral pyrrhotite in concrete aggregate. Critics say that plans advanced to date don't go far enough.
Image Credit: Connecticut Coalition Against Crumbling Basements

Connecticut state lawmakers are considering several ways of helping homeowners whose homes are threatened by failing concrete foundations.

last week, lawmakers listened as homeowners and state officials described problems traced to the presence of the mineral pyrrhotite in aggregate used to make concrete. Six bills dealing with a problem potentially affecting tens of thousands of homeowners in the eastern part of the state are now before lawmakers.

Among the proposals under consideration are subsidies for interest rates on repair loans, borrowing by towns and cities to provide financial help to homeowners, and a waiver on building permit fees for homeowners trying to fix their houses, according to a .

But to critics, including the president of the , legislative efforts to date come up short.

“The governor continues to fail us today,” the coalition’s president, Tim Heim, said. “Governor Malloy, hear our message loud and clear: Thank you, but no thank you.”

The problem could spill over into the banking industry. Dave Weise, general counsel for the Connecticut Bankers Association, told the state’s National Public Radio affiliate that some of the association’s bank members hold tens of thousands of loans in eastern Connecticut and do not know how many may be affected by the pyrrhotite problem.

“Their homes are worthless, which means our collateral is worthless,” Weise told WNRP. “A lot of these people are unable, or in some cases unwilling to repay their mortgage loans, on the theory of, you don’t throw good money after bad.”

3 Comments

  1. Mike Clarke | | #1

    Here in New Zealand, concrete
    Here in New Zealand, concrete is 'certified'. Concrete suppliers continually provide batches to the testing authorities for certification. Is there a chance your state has similar legislation?

  2. User avater GBA Editor
    Scott Gibson | | #2

    There's no national standard
    Mike,

    As far as we know, there are no national standards on the pyrrhotite content of concrete aggregate and no routine testing for it on either commercial or residential jobs. The American Concrete Association, an industry trade group, has not responded to our requests for more information on the problem.

  3. Anon3 | | #3

    Make the one responsible pay
    Make the one responsible pay for it. No taxpayer money should be used to subsidize private profit that was made years ago.

Log in or create an account to post a comment.

Related

Community

Recent Questions and Replies

  • |
  • |
  • |
  • |