Jackson weighs $275K ‘reviving’ first-rental/purchase right for town employees
On March 2, Jackson Town Council reviewed a proposal to buy a floating “reviving” right of first purchase or rental (EROP) for about $275,000, expanding employee access to Housing Trust units. Staff asked council to direct the town attorney to draft purchase documents for a later
Jackson Town Council discussed whether to pursue buying an Employee Reviving Right of First Purchase or Rental (EROP) — essentially a “floating” priority slot that lets town employees rent or buy a unit from the Community Housing Trust portfolio before it goes to the trust’s general waitlist. The item came up during the March 2 regular meeting. Regular Town Council Meeting Agenda Packet
According to the staff report, the EROP being offered is a reviving right: when a town employee moves out or leaves town employment, the right returns to the town and can be used again by another employee. If no eligible employee can use it when a vacancy occurs, the Housing Trust would then offer the unit to the next household on its waitlist. Staff said the opportunity arose because the current owner — described as a local nonprofit — offered to sell the EROP to the town for approximately $275,000. Town Council Regular Meeting Agenda Packet
The town currently holds 18 EROPs and has 14 additional EROPs previously approved but tied to projects not yet built (six rental rights at Nelson Drive and eight purchase rights at S4 Flats), the report said. Staff recommendation was for council to direct the town attorney to prepare purchase documents so a finalized transaction can return for action at a future meeting. Town Council Regular Meeting Agenda Packet
Background
Jackson's employee housing strategy evolved from broad workforce goals in 2012–2015 to a targeted, multi-objective approach by 2026, using public-private partnerships, diverse funding, and regular updates to meet employee and community needs.
Latest: 2026-05-18 — Town Council Workshop refines employee housing strategy: sets objectives for location, tenure, unit type, affordability, 70% employee housing, transparent selection, and quality.
curated as of 2026-05-25
The 2026 amendment to Jackson's housing rules redefines eligibility, adds compliance measures, and clarifies processes, passing after three readings amid mixed stakeholder support.
Latest: 2026-02-17 — Third reading and final approval of the ordinance amending Chapter 16.10.
curated as of 2026-11-03
90 Virginian Lane was acquired in 2023 for $28M using SPET, mitigation, and Town housing funds, with $18M in tax-exempt bonds. Planned as a 221-unit workforce housing project, its development awaits final approval as of 2026.
Latest: 2026-07 — Town and County deliberating next steps for development; staff and Pennrose recommend proceeding with 221-unit mixed-income workforce housing plan. Alternatives, including continued interim use, are discussed if delayed.
curated as of 2026-11-01
Source Documents
| Date | Title | Type |
|---|---|---|
| March 2, 2026 | Regular Town Council Meeting Agenda Packet | packet |
| March 2, 2026 | Town Council Regular Meeting Agenda Packet | packet |