The Nation - News from June 8, 1987

Despite a faulty loan application, the Connecticut Housing Finance Authority granted a $15-million loan to the developers of L’Ambiance Plaza, which collapsed during construction in April, killing 28 workers, according to a published report. A low-interest loan was approved for the Bridgeport apartment project without any verification of the developers’ building record and financial resources, the Hartford Courant said. Delwood Development International Inc. of Davie, Fla., also sought waivers and deferred payments worth more than $500,000 before receiving the loan, despite a report by the authority that the developers’ personal worth exceeded $6 million.