The “captive insurance company” set up by the state to give grants to people whose homes have crumbling foundations is closer to being in operation, but not there quite yet.
At a meeting of the Capitol Region Council of Governments Ad Hoc Working Committee on Crumbling Foundations Wednesday, Steve Werbner, the Tolland town manager, said the captive insurance company hopes by mid to late October to release a set of guidelines on how homeowners with crumbling basements can apply for grants, how they will get reimbursed, and the process that will determine the order in which people get help.
There will be a 30-day comment period after the guidelines are released where the public can comment on them.
Werbner says the captive insurance corporation is hoping to start accepting applications for grants from affected homeowners by mid to late November. However that timetable could be delayed, according to Werbner, when other government agencies weigh in on the grant guidelines.
It is estimated the captive insurance company will have $20 million at its disposal when it begins making grants. So far there are more than 700 homeowners who have filed complaints with the state saying they have crumbling concrete basements. It often costs more than $200,000 to replace a single-family home’s crumbling concrete basement.
More than 700 Connecticut homeowners in the north central and eastern part of the state have filed claims with the state saying they have crumbling concrete basements. Experts say this was caused by the naturally occurring mineral pyrrhotite, which, when exposed to air or water can cause concrete to crack over a period of years. A state investigation found the mineral in the aggregate used to make concrete from one Connecticut quarry between approximately 1983 and 2016.
NBC Connecticut Investigates broke the story about the crumbling concrete crisis in our state in July 2015.