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Gov. Jim Justice discussed his pitch for $50 million in surplus funds to support the construction of single- and multi-family housing units during his online administrative briefing Thursday.
Justice pointed to major economic development announcements over the last couple of years and said that as projects like BHE Renewables in Jackson County and Nucor in Mason County come online they are expected to generate a number of new jobs themselves, plus among other businesses.
That should draw people to the state, but "if you don't have a place that you can either buy or rent, how can you come to West Virginia?" the governor said.
"The tremendous growth and economic development in this state has really created ... an even greater need for affordable, moderately priced housing," West Virginia Housing Development Fund Executive Director Erica Boggess said during the briefing. "Housing is truly a component of economic development."
The money would go to the fund, which works to increase the supply of residential housing for low- to moderate-income individuals and families and provide construction and mortgage financing for public and private housing investors.
Details are still being worked out for the proposed program, but, according to a release from the governor's office, the majority of the funds would be used for low-interest lending to incentivize construction of affordable housing units in targeted areas and an initiative to help home builders pre-sell units and assist buyers with securing financing prior to the start of construction.
The proposal requires legislative approval and would be part of the surplus portion of the budget, which uses available funds at the end of the fiscal year.
Answering questions from members of the media about other budget items, Justice said he is open to legislation proposing even higher raises for teachers and school service personnel than what he proposed in his budget.
The governor also presented the state's 2024 vacation guide. He encouraged people to visit wvtourism.com to request a free copy of the publication for themselves and someone they want to visit the state.
Justice announced that flags at the Capitol Complex and all state-owned facilities in McDowell County will be lowered to half staff Saturday in honor of longtime Sen. John Pat Fanning, who served a combined eight terms between 1968 and 2012 representing McDowell, Wyoming, and parts of Wayne County. Fanning passed away Jan. 7 at the age of 89.