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Packet restates workforce deed restriction and business-option rules for 7370 Rimrock Road in Teton Village
Summary
Staff submitted a replacement workforce deed restriction for Lot 4 (7370 Rimrock Road) that restates prior recorded limits and clarifies the Business Option allowing eligible Teton Village businesses or nonprofits to designate employee purchasers; the packet lists the proposed restriction and places approval on the agenda.
The board packet includes a full draft of the Workforce Ownership Deed Restriction for 7370 Rimrock Road (Lot 4, The Homesteads at Teton Village). The draft restates prior restrictions and updates the template approved in January 2026; it preserves a Business Option that allows developer-authorized businesses and nonprofits in Teton Village to designate qualified employees to purchase workforce ownership units. The restriction requires that at least 75% of total household income be earned from a local business, mandates annual requalification, and sets transfer and enforcement provisions similar to other Authority deed restrictions.
The Business Option has been used by developers in the Teton Village expansion to prioritize employee access to ownership. The March 11 materials include signature lines for owners Racquel and Rizki Nugraha and placeholders for Authority and county signatures. The packet places a motion to approve the Amendment and Restatement Restriction for the Lot 4 unit on the agenda; the March 11 excerpt does not record the board’s vote on the item. Staff’s sales table lists a closing on or before April 10, 2026 for the Rimrock Road unit.
