WV HB3214

Creates the Mountain Homes Fund to provide construction loan guarantees for residential housing developments of at least six homes with a minimum appraised value of $800,000, targeting workforce housing priced between $150,000 and $300,000 per unit

Loan guarantees cover up to 50% of project costs (maximum $400,000 per guarantee) for developers who cannot meet the cash reserve requirements for construction loans, with guarantee terms not exceeding 5 years

Caps total annual project approvals at $10 million and sets program expiration date of January 1, 2036, though existing approved projects would continue to completion

Requires developers to establish mandatory homeowners associations, meet local government standards for utilities and stormwater management, and comply with drug-free workplace requirements

Authorizes the Department of Economic Development to administer the fund, approve applications, promulgate rules, and decertify projects for fraud, poor workmanship, or non-compliance, with criminal penalties (up to $1,000 fine and/or 1 year imprisonment) for false statements