Gas boom revives W.Va. housing incentive program - WVVA TV Bluefield Beckley WV News, Weather and Sports

Gas boom revives W.Va. housing incentive program

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CHARLESTON, W.Va. (WVVA) -- A state incentive program designed to increase home construction is being revived in response to the natural gas industry's growth.

Builders who can't find buyers for homes can sell them to the West Virginia Housing Development Fund at 70 to 85 percent of the appraised value.

The agency expects to buy about 100 homes annually. It's allocated $2.5 million for the program.

Acting executive director Erica Boggess tells the Charleston Gazette (http://bit.ly/QifyLmV ) that business leaders in the natural gas industry have told the agency it's difficult to find safe, affordable housing.

The Constructing Affordable Sensible Homes, or CASH, program began in 1993 to address a shortage of housing in north-central West Virginia. The housing agency stopped the program in 2008 when West Virginia's housing market declined.

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