Where We Are
CFSIC has 1,195 identified claimants in-house.
Our robust electronic application platform has been able to identify almost 45 claimants per week since the inception of our program.
These claimants represent verified impaired foundations in 40 towns in Connecticut’s Northeast Corner. The data collected through the application process is the single most important data set available on the crumbling foundations crisis.
To date, CFSIC has paid more than $15 million in claim payments for Type 1 and Type 2 claims. We currently have another $20.5 million in funded construction underway throughout the affected area.
The CFSIC team, under the leadership of the Superintendent, is managing a payment process at an average rate of more than $500,000 per week.
CFSIC is in suspension for the taking of new applications. We do not know when we will be out of suspension for applications. The fastest way to lift the suspension on applications is to remove the June 30, 2022 sunset date. Those interested in having their applications considered by CFSIC, or those advocating for action on behalf of victims, should consider that date as the date standing between the resumption of applications and, with that, the identifying of more homeowners with a crumbling foundation.
As of today, CFSIC is still also in suspension for the completion of Participation Agreements. Based on what we have been informed, there is every likelihood that CFSIC will be out of suspension by Monday, September 30. When this occurs, it will be announced on this site, and also by way of a press release to the public. When we come out of suspension for Participation Agreements, claimants now in line (claimants 1 through 61) will begin to receive their Participation Agreements for their signature. As these are returned to the Superintendent’s office, the Superintendent will countersign each one, which will cause the activation of the payment a Type 1 deposit on the project, or the first installment of a Type 2 reimbursement.
Additionally, all claimants in line for Participation Agreements from the 62nd agreement through the end of the current line, as that line exists on September 30, will be notified as to the approximate date on when they will receive their Participation Agreement for signature, beginning in the month of October 2019 and ending in the month of June 2020. We will be rationing Participation Agreements, in order to preserve our cash, at the approximate rate of nine per month for each homeowner in line after the 61st claimant. However, we will be providing the approximate timeframe when each Participation Agreement will be provided, so that claimants in line will be able to schedule remediation accordingly as well as plan for the future.
CFSIC’s Annual Report
CFSIC’s 2019 Audited Financial
We expect that CFSIC’s audited financial for the period ending June 30, 2019 will be published on this site on September 30. This audited financial will be approved this week, we believe, by CFSIC’s board and eventually by the Sole Trustee of the Crumbling Foundations Assistance Trust, which is the sponsor of CFSIC.
Committees in Cognizance Report
The Superintendent provided to the Chairmen of the five legislative Committees in Cognizance a report on September 1, 2019. This report detailed CFSIC’s operations as is required under PA 17-2.
If you have any questions about the operation of the program, ESIS is your best source of information on your claim, and their phone number and email are shown below.
As you work through the information and application process, here’s how you can get help:
– Call ESIS (the claim adjuster) at: 844-763-1207
– Email ESIS at: firstname.lastname@example.org
– Email CFSIC at: email@example.com
Michael Maglaras, Principal
Michael Maglaras & Company