The Connecticut Bond Commission has released the final $20 million allocation to the Connecticut Foundation Solutions Indemnity Company (CFSIC).
The CFSIC is a captive company established to aid homeowners suffering from crumbling foundations as a result of the presence of pyrrhotite, a mineral which deteriorates concrete.
The captive receives financial support from the state through the Crumbling Foundations Assistance Fund.
The Department of Housing approved the release of the installment of funds for fiscal year 2022, taking the total allocated funding received by CFSIC to $100 million.
Earlier this month, Connecticut Governor Ned Lamont signed the CFSIC into a permanent entity, licensed to support homeowner claims under section 38a-91vv of the general statutes.
During the meeting, the Bond Commission approved over $1.1 billion in borrowing, including around $500 million for transportation projects and $300 million for school construction projects.
