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Jackson council backs 50/50 split of $10M pledge for 90 Virginia Lane and taps housing funds to pay town share
Summary
Town Manager Tyler Sinclair recommended splitting a $10 million town–county commitment for the 90 Virginia Lane project evenly. Council directed staff to propose a 50/50 split to Teton County and authorized use of restricted and assigned housing funds for the town’s portion; both votes were unanimous.
Mayor Arne Jordan opened the Jan. 20 meeting as the Town Council voted to propose a 50/50 division of a $10,000,000 town–county commitment for the 90 Virginia Lane housing project.
Town Manager Tyler Sinclair told council that staff recommends evenly splitting the additional $10 million and explained where the town’s roughly $5,000,000 share could come from: about $1,700,000 in restricted mitigation fees plus roughly $3,600,000 in assigned housing funds the town has put aside over recent years. Sinclair said using restricted funds first preserves transparency about developer mitigation money and that a separate $10 million special purpose excise tax for town employee housing is restricted and not available for this community housing request.
The recommendation followed prior discussions and a staff analysis of alternatives including population‑based splits and crediting prior contributions. Sinclair said the total public funding package discussed for the project would yield a minimum of 200 portable and workforce housing units once finalized.
Councilor Spears moved to direct staff to draft a letter to Teton County proposing a 50/50 split; Councilor Beaman seconded and the motion passed unanimously. The council then voted to authorize staff to use the town’s restricted and assigned housing funds as described to fund the town’s portion; that motion, moved by Councilor Dean and seconded by Councilor Regan, also passed unanimously.
Councilors asked staff to note that the $10 million special purpose excise tax devoted to town employee housing is a separate, restricted pool and would not be used for this community housing commitment unless council later chose that course. Sinclair said the town has received only about $500,000 of that specific revenue to date, with the remainder collected by the county over several years.
The council’s direction is intended to inform upcoming joint discussions with Teton County; Sinclair said final allocations will be decided jointly with the county in February or March.
The council placed no additional conditions on the letter; staff will draft it and share next steps with council before final action.
