Town, county to set next steps for 90 Virginian Lane housing on April 6

Jackson Town Council and the Teton County Board of County Commissioners are scheduled to take up the 90 Virginian Lane Affordable Workforce Housing Development during their April 6 Regular Joint Meeting, with staff recommending a motion to “direct staff to prepare the suite of documents” for the project based on an April 6 staff report. The item is set for 120 minutes on the agenda. Regular Joint Meeting Agenda, Regular Joint Meeting Agenda Packet.

The packet frames several near-term policy/funding decisions that affect what gets built and who benefits. Among them: how the town and county will split an additional $10 million commitment (the “First 10”) for the development; whether the Town of Jackson will also pre-purchase condos (the county has agreed to a $5 million condo pre-purchase, per the staff report); and whether electeds want to direct a first preference in lotteries/drawings for certain employee or volunteer groups beyond the current “Critical Service Provider” preference. Regular Joint Meeting Agenda Packet.

Staff notes that the 5.15-acre, NH-1-zoned site was purchased in 2023 for $28 million using a mix of tax-exempt bond financing and housing/mitigation funds, and that Pennrose is asking for an additional $5 million commitment for a rental-project funding gap. The packet also lists funding-rule constraints depending on the source of money (for example, “employee SPET” funds must be used for rental housing), and describes other options that could reduce project funding gaps by shifting unit affordability bands. Regular Joint Meeting Agenda Packet.