Workforce Homes

Key Points

Qualifications 

• No Income or Asset limits
• One person in the household must work full-time for a Local Business (see definition below) (1,560 hours per year - an average of 30 hours/week) 
• 75% of total household’s income must be earned from a Local Business (see definition below) at time of rental/purchase and during occupancy
• May not own residential real estate within 150 miles of Teton County, Wyoming
• Must be a U.S. Citizen or Lawful Permanent Resident (Green Card) Ownership only

Occupancy & Use

• There is no minimum household size for Workforce units. 
• May not sublet/rent any rooms in the home or the home without prior approval of the Housing Department.
• Must occupy the home 10 months out of each calendar year Ownership only
• Must occupy the home for 80% of the lease term Rentals only
• Rental units must not be owner occupied and must remain rental units Rentals only

Rental Process

• All current Workforce rentals are provided by independent developers
• All tenants of Workforce rentals are selected by the owner directly - the Housing Department is not involved
• There is no cap on rental rates. Pricing for Workforce rentals is decided by the owner - the Housing Department is not involved
• Units may not remain vacant for more than 60 days.
• Owners must keep records to verify tenants are qualified. The Housing Department must qualify the household, and requalify the household annually

Sales Process

• Most of the Workforce ownership homes in our community are provided by independent developers
• Initial buyers are chosen by the developer directly - the Housing Department is not involved
• Initial sales price of a Workforce ownership home is negotiated directly between the buyer and seller - the Housing Department is not involved
• If the initial buyer decides to sell, all subsequent buyers will be selected through the Housing Department’s Weighted Drawing process. This requires that one person in the household must work full-time in Teton County, WY, for a minimum of one year
• Appreciation is limited after the initial sale (CPI capped at 3%)
• The Housing Department must qualify the household, and requalify the household annually

Local Business

To qualify as  a Local Business, the business must meet all of 'A' below or all of 'B'.

A.) (1) a business physically located within Teton County, Wyoming, holding a business license with the Town of Jackson, Wyoming or one that can provide other verification of business status physically located in Teton County, Wyoming, and (2)  A minimum of seventy-five percent (75%) of the business’ clients or customers are physically located in Teton County, Wyoming, and (3) the employees/owners must work in Teton County, Wyoming to perform their job.

Or

B.) A business physically located in Teton County Wyoming who employs two or more Qualified Employees, which qualified employees must work in Teton County Wyoming to perform their job.