AFFORDABLE WORKFORCE HOUSING CALCULATOR
August 2, 2018 - Housing Mitigation Requirements Adopted, July 16th Town and County Joint Information Meeting. The new regulations became effective July 18, 2018. Review the new regulations as incorporated into the Land Development Regulations here:
These are the major updates to our Housing Mitigation Requirement that will keep our community special:
All types of development will be required to provide housing based on the number of year-round, full-time employees generated by the development who cannot afford to live in our community.
The amount of housing required will account for the ability of employees to afford market housing.
The mitigation requirement updates are paired with updates to zoning allowances and incentives to encourage the market to provide workforce housing in Town
What are we doing?
The Town and County are updating how much deed-restricted housing a developer should be required to provide as part of a new development.
Housing requirements on new development have been in place since 1995. Twenty-five percent of all new residential units must be affordable, and new businesses must house about 33% of their seasonal employees. However, a lot has changed since 1995: like how the community is growing and what types of housing are needed. The purpose of this project is to ensure new development is providing housing that is in line with current trends and community goals.
Jackson & Teton County Housing Action Plan
The Jackson and Teton County Housing Action Plan (PDF) outlines strategies for updating housing requirements and sets the groundwork for much of this project.
Housing has become more and more expensive since the 1980’s, and as a result, many of community’s employees now live outside the Valley.
In 2012, the community set a goal to address its housing issue so that at least 65% of local employees could live locally. The goal is important because employees who live locally stay in the community longer and, as a result, are more invested in the community. Local workers also have a greater appreciation for the natural resources of the area and spend their money locally
Employees Who Need Housing
There are three types of employees who need housing:
- Existing employees without housing
- New employees filling jobs vacated through retirement or other reasons
- New employees generated by job market growth
Town & County Requirements
The Town and County can require that when development (e.g. a new subdivision or commercial building) occurs, it must include housing for the employees generated by the growth. But the Town and County cannot legally require a developer to provide deed-restricted housing for more employees than are generated by the development.