Connecticut Governor Dannel Malloy wants to create a state loan program to help thousands of homeowners in northeastern Connecticut who are dealing with crumbling concrete foundations.
The proposed legislation would be administered by the state Department of Housing. It would provide interest rate subsidies for homeowners taking out loans to deal with the crumbling foundations.
The estimated cost of replacing such foundations is between $75,000 and $150,000 per home. State officials have determined that thousands of foundations built after 1983 and poured with defective concrete from the Becker Quarry in Willington are at risk.
The homes are within a 20-mile radius of the quarry.
Last month Governor Malloy made $5 million of state money available to affected homeowners. The money offers a 50 percent reimbursement for the testing of foundations and a 100 percent reimbursement for a visual inspection.