Commissioners Discuss $10M Development Agreement for Affordable Housing Project
September 29, 2025 | Teton County, Wyoming
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The Teton County Special Town Council Joint Information Meeting held on September 29, 2025, focused on critical discussions surrounding a proposed development agreement and funding strategies for affordable housing in the area.
During the meeting, officials addressed the financial constraints of the project, with staff indicating that a previous funding gap of $30 million would be significantly reduced. The council is working towards presenting a feasible financial recommendation that aligns with the county's budgetary capabilities.
A notable point of discussion was the potential for a profit-sharing mechanism within the development agreement. Shannon Coxbaker confirmed that this option remains on the table as they explore financing agreements over the coming months.
Commissioner Gardner sought clarification on a previously committed $10 million contribution to the project, emphasizing the need to understand whether this funding would come with any rights of first refusal or similar claims. It was clarified that the $10 million is strictly a contribution to the development and does not grant any preferential rights regarding housing units.
The council also discussed the timeline for the funding, with questions raised about whether the financial contributions would be expected in fiscal year 2026 or 2027. The specifics of the funding timeline will be part of ongoing discussions related to the financing agreement.
Additionally, there was a conversation about the use of Special Purpose Excise Tax (SPET) funds for employee housing. The council acknowledged the need to review the language of the SPET ballot to determine if it allows for contributions beyond ownership, such as rights of first rental or purchasing units.
Overall, the meeting highlighted the complexities of funding affordable housing initiatives in Teton County, with officials committed to finding a balanced approach that meets community needs while remaining financially responsible. Further discussions and recommendations are expected in the coming months as the council continues to navigate these challenges.
During the meeting, officials addressed the financial constraints of the project, with staff indicating that a previous funding gap of $30 million would be significantly reduced. The council is working towards presenting a feasible financial recommendation that aligns with the county's budgetary capabilities.
A notable point of discussion was the potential for a profit-sharing mechanism within the development agreement. Shannon Coxbaker confirmed that this option remains on the table as they explore financing agreements over the coming months.
Commissioner Gardner sought clarification on a previously committed $10 million contribution to the project, emphasizing the need to understand whether this funding would come with any rights of first refusal or similar claims. It was clarified that the $10 million is strictly a contribution to the development and does not grant any preferential rights regarding housing units.
The council also discussed the timeline for the funding, with questions raised about whether the financial contributions would be expected in fiscal year 2026 or 2027. The specifics of the funding timeline will be part of ongoing discussions related to the financing agreement.
Additionally, there was a conversation about the use of Special Purpose Excise Tax (SPET) funds for employee housing. The council acknowledged the need to review the language of the SPET ballot to determine if it allows for contributions beyond ownership, such as rights of first rental or purchasing units.
Overall, the meeting highlighted the complexities of funding affordable housing initiatives in Teton County, with officials committed to finding a balanced approach that meets community needs while remaining financially responsible. Further discussions and recommendations are expected in the coming months as the council continues to navigate these challenges.
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