The head of an assistance program for Connecticut homeowners with crumbling foundations has delayed his departure from the organization.
The Journal Inquirer reports that Michael Maglaras, superintendent of the Connecticut Foundation Solutions Indemnity Co., had originally planned to resign this month, but now intends to step aside early next year.
He agreed to stay at the request of the captive insurance company’s board. President Steven Werbner says “maintaining the continuity of our program is of vital importance.”
Concrete basements and foundations are crumbling in hundreds of Connecticut homes because of an iron sulfide called pyrrhotite.
As of last week, 40 foundations have been completed. Maglaras said he expects an additional 40 to 50 homes will be fixed by Christmas, and close to 200 by next October.
Information from: Journal Inquirer
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