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Council weighs $4.05 million SPET investment for Nelson Drive employee rentals; decision continued to Dec. 15
Summary
The Jackson Hole Community Housing Trust and town staff asked the council to allocate $4,050,000 from a voter-approved, employee-housing SPET fund for six 30-year lease options at a Nelson Drive modular rental project; after extensive public comment and questions about traffic, wildlife and long-term affordability, the council voted to continue the funding decision to Dec. 15.
The Jackson Town Council on Dec. 1 heard a request from the Jackson Hole Community Housing Trust to use $4,050,000 of the town's 2022 special-purpose excise tax (SPET) set aside for employee housing to secure six 30-year rental options at a proposed Nelson Drive project.
The request was presented by town staff and by Anne Creswell, executive director of the Housing Trust, who said the proposal leverages a 30-year Bridger-Teton National Forest special-use permit, a $2.3 million U.S. Department of Agriculture grant and private philanthropy. Creswell told the council the town's cost for each option would be $675,000 while the project's total per-unit construction and land value is approximately $1.3 million, due largely to donated federal land and grant funding.
Why it matters: Staff and the Housing Trust said the project would provide…
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