Rafter J Ranch

The Housing Department’s pilot housing preservation program aims to preserve homes for local workers and maintain the valley’s existing housing stock, including in developments like Rafter J. The department is now looking for feedback on the program.

The Jackson/Teton County Housing Department is looking for feedback on a pilot program that helps locals buy homes — in exchange for limiting resale of the property to other local workers.

“We want to hear from the public to find out what they like and don’t like about the program, reasons why they might use it or reasons why they would not use it," Housing Director April Norton said in a press release Thursday. "How can we help more members of our community through this program? That’s what we hope to find out from this survey.”

The initiative, dubbed the Preservation Program, offers up to $150,000 in downpayment assistance for Teton County workers who are looking to buy a home and are willing to trade that cash for a "workforce" deed restriction on the property when the sale close. The "workforce" deed restriction is the legal tool that limits resale, setting the home aside for local workers.

The program also offers the same sum of money to existing homeowners who choose to record a "workforce" restriction on their property.

In a nutshell, those restrictions require a household to make 75% of its income from Teton County businesses, prohibits the household from owning residential real estate within 150 miles of Jackson Hole, and caps appreciation on the property to 3% annually, in an effort to keep the unit affordable. 

The Preservation Program was funded with $1 million in specific purpose excise tax, or SPET, funds specifically earmarked for housing. It was approved by the Jackson Town Council and Teton County Board of County Commissioners in January and launched in February.

Those interested in participating in the survey can do so by visiting this link.

You can read more about the program in News&Guide articles here and here.

Teton County's website with information about the Preservation Program can be found here.

Contact Billy Arnold at 732-7063 or barnold@jhnewsandguide.com.

Teton County Reporter

Previously the Scene editor, Billy Arnold made the switch to the county beat where he's interested in exploring Teton County as a model for the rest of the West. When he can, he still writes about art, music and whatever else suits his fancy.

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