JACKSON, Wyo. — The Jackson Town Council unanimously voted on Monday to send a letter to the Wyoming Community Development Authority, expressing their support for the Flat Creek Apartments.
The letter details the town’s commitment to consider the use of the Town’s General Fund Reserves for up to 1,250,000 in additional funding to fill the funding gap, contingent on a denial of the town’s Community Development Block Grant (CDBG) applications.
The Flat Creek Apartments is a 48 unit low-income housing rental project located at 400 West Snow King Avenue. The land, owned by the town, was appraised at $5 million dollars. It is the current location of the green fairgrounds building.
According to the staff report, There are no other current or proposed projects in the Housing Supply Plan to meet the needs of low-income community members. The investment will also allow the town access to new federal funding, leveraging at least $16 million dollars.
The town previously applied for two grants totaling 1,250,000 but according to April Norton, joint housing director, the awards for the funding are delayed due to “interagency challenges.”
The letter aims to help the town’s application. The grant awards are expected to be announced at the end of the month, Norton said.
According to the town’s Finance Director, Kelly Thompson, the town is about $3 million ahead on sales taxes revenues as of December.
Sales tax revenues are expected to continue to remain high throughout the remainder of the fiscal year.
“When we sign things like this, I assume we will spend it. it will be great if we don’t but I still feel supportive of this knowing that the project is worth those 48 units,” Mayor Morton Levinson said.
