Jackson Mayor Pete Muldoon sent a letter to the state legislature on Monday that outlines a plan to revamp the housing mitigation rates for commercial businesses in Teton County.
Muldoon said that the proposed amendment would be tied to the adoption of a 7th penny of sales tax.
In any year the new tax is collected, and at least 40% of the Town of Jackson’s portion of the tax is placed into a Housing Account used for deed-restricted workforce housing, 75% of the required housing exactions for employees generated would be waived and the remaining required housing would not be required to meet affordability limits.
Muldoon says the proposal would dramatically decrease housing exactions and allow for the Town of Jackson to provide workforce housing funded by sales tax generated by the new development.
Muldoon says House Bill 22, which the legislature has floated to address the Town’s ability to charge mitigation fees, would not be needed.
However, as this is a budget session, non-budget items are not as likely to see action. The proposed ordinance is still in draft form.