Assisting Homeowners with Failing Foundations
I joined fellow representatives and senators across the aisle to discuss the bills aimed at addressing crumbling foundations, specifically House Bill 6478.
If there are a few crumbling foundations in a condominium complex, condo fees become completely unpredictable, reducing the value of structurally sound condominiums in the same complex by two-thirds or more. These homeowners are in need of help and this legislation is a way for the state to lend a helping hand.
The bill will:
- prohibit the use of pyrrhotite in concrete aggregate intended for use in foundations
- require the installation of curtain drains along concrete foundations in high water table areas
- require that concrete removed from failed foundations is properly disposed of
- establish a one-hundred-dollar surcharge on residential and commercial insurance policies, assessed annually for a period of not more than seven years, to establish a fund out of which a homeowner may receive up to seventy-five thousand dollars for the remediation of such homeowner's failing concrete foundation
- waive the state building fee associated with the remediation of failing concrete foundations.