Town staff outlines options for splitting $10M proposed contribution to 90 Virginia Lane housing project
October 20, 2025 | Jackson, Teton County, Wyoming
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Town Manager Maggie Sinclair and finance staff briefed the Jackson Town Council on Oct. 20 on options for the town’s portion of a proposed $10 million contribution to the 90 Virginia Lane housing project. No formal action was requested; staff presented funding scenarios ahead of planned joint discussions with Teton County.
Staff said the town and county have agreed in principle to provide an additional $10 million for the project and asked council to consider how that total might be split. For discussion purposes, staff recommended a simple 50/50 split — $5 million from the town and $5 million from the county — while noting alternative methods such as a split by population or crediting prior contributions (county mitigation funds and town housing funds).
Staff outlined possible town funding sources should the council approve a $5 million share: approximately $1.6 million in restricted mitigation funds that must be used for housing, about $3.6 million in assigned housing funds (non-restricted but previously targeted to housing), and a separate town employee housing account with an approximate balance of $3.0 million that could be used for employee housing needs. Staff recommended using the restricted mitigation funds first, then the assigned housing funds to make up the remainder, while noting that other accounts could contribute depending on council direction.
Sinclair summarized the purchase history and previous funding for 90 Virginia Lane: the housing authority purchased the site in 2023 for $28 million, financed in part by tax‑exempt bonds (roughly $18 million), prior specific-purpose excise tax (spec) funds, mitigation funding, and $2 million from town housing funds. Staff cautioned the council that using assigned and restricted housing funds would reduce the town’s reserves available for other housing opportunities and stressed that further discussion with the county will be necessary to finalize any split or crediting approach.
Councilors asked clarifying questions about timing and restrictions. Staff said the $10 million from the 2022 spec measure will be paid to the town in increments (expected fiscal-year 2027 and later) and that the town has some flexibility to move assigned funds but not mitigation funds. Councilors also asked for clarification about potential impacts on other local housing opportunities (such as Nelson Drive) and the need to preserve funds for town-employee housing; staff noted that the town employee housing account could be used for employee-focused projects and that specific rights (first right of purchase or rental) would typically be negotiated as part of project agreements.
No vote was taken. Staff will carry the discussion forward to joint meetings with Teton County and return with more detailed options and a recommended approach.
Staff said the town and county have agreed in principle to provide an additional $10 million for the project and asked council to consider how that total might be split. For discussion purposes, staff recommended a simple 50/50 split — $5 million from the town and $5 million from the county — while noting alternative methods such as a split by population or crediting prior contributions (county mitigation funds and town housing funds).
Staff outlined possible town funding sources should the council approve a $5 million share: approximately $1.6 million in restricted mitigation funds that must be used for housing, about $3.6 million in assigned housing funds (non-restricted but previously targeted to housing), and a separate town employee housing account with an approximate balance of $3.0 million that could be used for employee housing needs. Staff recommended using the restricted mitigation funds first, then the assigned housing funds to make up the remainder, while noting that other accounts could contribute depending on council direction.
Sinclair summarized the purchase history and previous funding for 90 Virginia Lane: the housing authority purchased the site in 2023 for $28 million, financed in part by tax‑exempt bonds (roughly $18 million), prior specific-purpose excise tax (spec) funds, mitigation funding, and $2 million from town housing funds. Staff cautioned the council that using assigned and restricted housing funds would reduce the town’s reserves available for other housing opportunities and stressed that further discussion with the county will be necessary to finalize any split or crediting approach.
Councilors asked clarifying questions about timing and restrictions. Staff said the $10 million from the 2022 spec measure will be paid to the town in increments (expected fiscal-year 2027 and later) and that the town has some flexibility to move assigned funds but not mitigation funds. Councilors also asked for clarification about potential impacts on other local housing opportunities (such as Nelson Drive) and the need to preserve funds for town-employee housing; staff noted that the town employee housing account could be used for employee-focused projects and that specific rights (first right of purchase or rental) would typically be negotiated as part of project agreements.
No vote was taken. Staff will carry the discussion forward to joint meetings with Teton County and return with more detailed options and a recommended approach.
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