JACKSON, Wyo. — At first glance, housing projects can seem simple: the project is planned, funding is secured, contractors hired, and building erected. Getting bogged down in the details, however, is surprisingly easy. It seems every project is replete with its own jargon.
Perhaps less frivolous than past ski slang glossaries, this glossary rounds up some of the most common jargon, acronyms, and organizations. What is the difference between the Housing Department and the Housing Authority? What does deed-restricted mean? What qualifies as workforce? What’s the difference between an affordable unit and a workforce unit?
For anyone that sits through a Town Council meeting and hears sentences akin to the RFP requires 70% workforce deed-restricted product mix at 158% MFI and has no idea what it means, this glossary should help.
Housing entities in Jackson
Jackson/Teton County Housing Authority
This is the governing body. It’s a three-person board appointed by Town Council, County Commission and existing Housing Authority board members. It’s a legal housing authority the Town and County jointly formed under Wyoming statute (§15-10-116), and it has its own board. Think of it as the entity that legally exists and sets policy.
Jackson/Teton County Affordable Housing Department (TCHD)
The department consists of the administrative and operational staff, which is funded jointly by the Town and County. The Department manages public-private partnerships to build housing for local workforce. They also run the application lotteries, manage sales and resales, and administer programs like down-payment assistance. Projects are typically funded with a blend of capital included Specific Use Excise Tax (SPET), mitigation fees, private capital, philanthropy, imapct investments, federal funds and the General Fund.
Jackson Hole Community Housing Trust
A completely separate, private 501(c)(3) nonprofit housing organization. The Housing Trust has its own board and builds homes and rents or sells them below market rate. While they sometimes partner with government organizations — like for the Nelson Drive project — they are a separate, non-government agency. Projects completed by the Housing Trust are generally funded with a blend of capital from the Town and County, philanthropy, debt, sales revenue and grants.
Habitat for Humanity of the Greater Teton Area (Teton Habitat)
This is another private nonprofit that is affiliated with Habitat for Humanity International, but operates autonomously. Teton Habitat builds and sells homes to lower-income households and keeps costs down by requiring future homeowners to participate in the build process.
Deed restriction and affordability
Affordable housing
Affordable housing is one of two separate paths to qualify for deed-restricted housing via TCHD. To qualify, at least one person in a household must work full-time in Teton County and work a minimum of 1,560 hours per year (which averages to a 30-hour work week). There are income caps for affordable units: households must earn less than 160% MFI (see MFI in acronym soup).
Workforce housing
Workforce housing programs target local workers whose income exceeds the limit to qualify for the affordable program, but remain priced out of the market-rate inventory. There are no maximum income limits for workforce housing, instead, 75% of total household income must be earned in Teton County to qualify, and applicants must not own a home or vacant, residential land over one-acre within 75 miles of Jackson.
Deed-restricted workforce/affordable housing
A deed restriction is a legal document filed in Teton County’s property records, which places limitations on the appreciation value of a property. The purpose of deed restriction is to keep housing affordable in future sales. Thus, deed-restricted housing will appreciate in value at a slower rate than the free market.
Ground lease
A long-term agreement (sometimes 50 to 99 years) where a landowner rents a plot of land to an entity or individual and owns any buildings or improvements that are constructed on it. In Jackson, it’s commonly used for commercial projects or affordable housing programs through organizations like the Jackson/Teton County Housing Authority. The Grove project is an example of housing built on a ground lease, as is the Redmond Street rental project.
2-for-1 bonus
Officially known as the 2:1 Workforce Housing Bonus Tool, the 2-for-1 bonus is a zoning incentive that allows developers to circumvent sizing LDRs (see LDRs in acronym soup) to build significantly larger structures and denser commercial or multi-family residences given they also build deed-restricted workforce housing as part of the project. Put simply: for every two square feet of bonus market-rate space a developer wants to add, they must also construct one square foot of deed-restricted workforce housing.
Unit or Product Mix
In a development project, this refers to the specific combination of different housing types within the project. For example, the product mix for the final proposal for the 90 Virginian Lane project before the contract with developer Pennrose was terminated was: 221 total homes divided into 161 rental units and 60 ownership units. A product mix can be more specific by noting the breakdown of the number of bedrooms for each unit.
Acronym soup
AMI (Area Median Income) and MFI (Median Family Income)
In practice, AMI and MFI are the exact same thing. Both terms describe the midpoint household income for Teton County as calculated annually by the U.S. Department of Housing and Urban Development (HUD). Affordable and workforce housing guidelines treat a percentage of MFI as guidelines for unit eligibility and cost.
LDR (Land Development Regulations)
These are essentially a rulebook for all local zoning, building and land development within Teton County. LDRs dictate what can be built, where it can be built, and how large it can be. For example, Teton County has LDRs that outline how close a dumpster can be to creeks and where snow can be stored in the winter.
RFQ (Request for Qualifications)
An RFQ is meant to evaluate a vendor or developer’s experience and competence. In the context of housing, the primary focus of an RFQ is to evaluate potential development partners based on their track record and experience. For example, an RFQ was released by Teton County in 2023 to begin the process of planning transportation development in the Northern South Park development project.
RFP (Request for Proposal)
An RFP is meant to evaluate how a development project will be built and how much it will cost. Typically an RFP will contain a defined scope and bidders must submit detailed cost breakdowns and development plans for the project. An RFP will result in a contract being awarded to a bidder. For example, Pennrose won the 90 Virginian Lane RFP over Elmington Affordables.
While not an exhaustive list, the above glossary should make understanding housing development projects more accessible. To learn more about housing developments in Teton County, visit the county website.
