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Housing staff proposes revised deed restriction to move 909 Sandcherry Way into 50–80% AMI band
Summary
Staff presented an amended and restated Affordable Ownership Deed Restriction for Unit 19 at Jackson Hole Golf and Tennis Condominiums (909 Sandcherry Way) that would change the unit’s eligibility to the 50–80% AMI band and set income, asset, employment and residency restrictions; a motion to approve the form was on the March 11 agenda.
Staff included a full draft of the Affordable Ownership Deed Restriction for Unit 19 (909 Sandcherry Way) and requested board approval of the template wording. Under the new language the unit would be restricted to households earning between 50% and 80% of Teton County AMI; the packet lists sample income limits (one-person household: $79,240; two-person: $90,560; three-person: $101,880) and an asset cap of $226,400. The draft requires at least one household member to work full time for a Local Business in Teton County and prohibits ownership of residential property within 75 miles of Jackson. The restriction also mandates annual verification of employment, occupancy and insurance.
The deed-restriction document in the packet contains standard enforcement provisions, a Qualified Mortgage definition, remedies for breach (including a purchase option and forced sale provisions) and signature lines for owners John and Gerta Park and the Authority Board Chair. The March 11 materials place a motion on the agenda to approve the Amendment and Restatement Restriction; the provided excerpt does not record whether the board voted on March 11. Staff’s sales table elsewhere in the packet lists 909 Sandcherry Way as a unit with an anticipated closing on or before April 17, 2026.
