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Jackson council backs 50/50 split and approves town funding for 90 Virginian Lane
Summary
The Jackson Town Council directed staff to propose splitting a $10 million commitment for the 90 Virginian Lane affordable housing project evenly with Teton County and authorized the town to use restricted and assigned housing funds for its share, after staff outlined sources and impacts to existing balances.
Town Manager Richard Sinclair told the Town Council on Jan. 20 that staff recommends dividing a $10 million commitment for the 90 Virginian Lane affordable housing project evenly between the town and Teton County and recommended using restricted housing fees first, then assigned housing funds to pay the town’s share.
Sinclair said the town and county acquired the property in 2023 for about $28 million using a mix of specific-purpose excise tax proceeds, prior SNAP funding, county mitigation…
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