Town may tap Jackson nonprofit for King St. housing

Town staff are advising elected officials to tag in the Jackson Hole Community Housing Trust to advance a beleaguered downtown project.

After two failed tries to secure low-income tax credits by the Town Council’s preferred developer, Westmount Development Group, of Connecticut, the project hangs in limbo as officials ponder how to get units built at 174 N. King St.

Ultimately, it seems, financial considerations may force the decision.

Despite the “immense need for low-income rental housing,” a town staff report states, “the costs to build that type of housing at this site and the public funding realities limit [the town’s] ability to pursue the rental options.”

The Housing Trust and Westmount were among the finalists vying for the project. In March 2018, the council reviewed revised proposals and picked Westmount.

But Westmount’s plans — 30 units priced for Teton County’s lowest income range — relied on tax credits, which so far it has been unable to obtain. Jackson’s high construction costs make it difficult to win over the Wyoming Community Development Authority, which awards the credits and sees getting more bang for its bucks somewhere where costs are lower.

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Posted by Stefani
Sep 3, 2019