Mercill Condos Unit 212

About the unit: This is a Workforce Ownership home. Households are not required to have a completed Intake Form prior to the start of the drawing period. Households are required to complete an Intake Form prior to entry and/or must make sure their existing Intake Form is updated and verified to enter the drawing.  

Mercill Condos Unit 212 located at 105 Mercill Avenue 

• 1-bedroom, 1-bathroom
• 1 covered parking space in parking garage
• Storage unit in parking garage
• Range, refrigerator, microwave, dishwasher, washer, and dryer
• 498 square feet 
• Home price: $393,023
• Pets allowed
• Income Range: Workforce Ownership unit - see eligibility requirements, below.
• Minimum Occupancy Requirement: No minimum Occupancy Requirement. Any size household may apply. 
• Deadline to Apply: Tuesday, July 30, 2024 by 4:00PM 
• Workforce Restriction
• CCRS

Eligibility Requirements

Please note the policies in effect to enter any weighted drawing: Housing Department Rules & Regulations

• At least one adult in the household must be employed full-time in Teton County for a minimum of one year. The Housing Department defines full-time employment as working a minimum of 1560 hours per year (30 hours/week average).
• You may receive one additional entry into the drawing for every year of verified full-time employment (minimum of 1,560 hours) in Teton County with a maximum of 10 years/entries.
• There are no income or asset limits for this home. However, 75% of the Household's combined income must be earned working for a Local Business and no one in the household may own residential real estate within 150 miles of Teton County, Wyoming. 
• Households will be required to live in the home at least 10 month out of each year. 
• Must have a completed Lenders Qualification Worksheet, with an up-to-date Credit Report (provided by a local lender, AnnualCreditReport.com, or CreditKarma.com), and a completed Home Buyer Education Class Certificate all must be attached to the Weighted Drawing Entry Sheet or on file with the Housing Department. The Housing Department will keep your Lender's Qualification on file for one year. The Home Buyer Education Certificate is good indefinitely. It is recommended that you speak to a local lender about all your financing options. Please be aware that due to demand, most lenders need at a minimum 48 hours to provide a completed Lenders Qualification sheet.
• Links to the application materials are below:
  • Weighted Drawing Checklist 
  • Other Required Materials - please reference "Ownership - Weighted Drawing Entry Forms" 
• If you have not already taken the Homebuyer Education course, you must complete it before you can enter the drawing.   
• Please click here for information for Critical Service Providers (CSPs). 

We understand that our applications to enter into the weighted drawing take time and effort, and we do not want to disqualify you due to an oversight or misunderstanding about our process. Please bring your applications in prior to the due date so that we have time to work with you, make corrections, and give feedback if anything is wrong.

Example cost breakdown for a purchase price of $393,023

Calculation of Income

Household income is based on the current income earned by all intended adult occupants of the rental unit at the time of weighted drawing using the current household income to estimate an annual (12-month) income basis. Households must use their current income and may not make changes or adjustments to earnings in order to fit within the income range.

The business income of a qualifying Household is calculated using an average of the last three (3) years of income on the business’ tax returns. A year-to-date profit and loss determination will also calculate business income. If the business has not been operating for three (3) years, the Housing Department will average income over the time the business has been operating.

Please contact the Housing Department if you have any questions or need assistance completing the forms.