Community Housing Trust | Annual Report 2021

Conserving community by MAKING ROOM for those who contribute to our quality of life.

A N N U A L R E P O R T 2021

A Letter from the Executive Director In 2021, as our focus and attention on the pandemic subsided, the rapidly rising cost of housing assumed center stage. This is a consequential time for our community: employers, employees, residents, and visitors are reminded daily about the impact the housing issue has on our valued workforce. The cumulative housing stress reverberates throughout the public and private sectors.

If there is a silver lining, it is that our community has aligned on the need for housing. And yet systemic changes in the construction and financial marketplace make the development of truly Affordable housing even more complicated than ever before.

It is against this backdrop that the board and staff of the Community Housing Trust committed to a strategic planning process to reimagine a way forward.

Our board is passionate and unrelenting. In this spirit, they approved a strategic plan that features an audacious goal to develop Affordable housing for 500 people in our community in five years. We are motivated by compassion for the people we serve, and we remain committed to collaboration as the key to accelerating the development of Affordable housing. Our commitment to steward public and philanthropic investments anchors every effort undertaken by our organization.

Despite the challenges, we are determined. We are honored by the confidence of our partners, awestruck by support from our generous donors, and invigorated by the opportunities at hand to develop quality, truly Affordable housing so that we can conserve our community.

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H O US I N GTR USTJ H.O R G

Strategic Plan VISION

Ending the housing crisis in our community.

MISSION

Conserving community in Teton County by developing essential, Affordable housing.

VALUES Compassion

Determination

Stewardship

Collaboration

Whether we’re working with the

We’re courageous, determined

We prioritize the strategic

We’re at our best when we

public or private sectors or with

and with over 30 years of

management and investment

use our unique strengths to

community members in our

expertise, we show up with

of resources made possible

work collectively towards the

program, we approach every

creative solutions to stretch every

through public partnerships and

common good, using innovative

engagement with empathy:

dollar, scrupulously manage

private gifts. We’re committed to

approaches to achieve our

community members serving

budgets, and execute quickly and

safekeeping our organization’s

housing goals together.

community members.

efficiently. We won’t stop until our

valuable assets.

housing crisis is solved.

5-YEAR GOAL

Develop stable, Affordable housing for 500 community members in Teton County in 5 years.

H O U S I N GTR U STJ H .O R G

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Compassion

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H O US I N GTR USTJ H.O R G

H O U S I N GTR U STJ H .O R G

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Determination In January 2022, the Community Housing Trust completed construction of 24 Affordable condos at 174 North King Street. The condos on King Street were made possible by a meaningful commitment of land and capital ($1.25MM) from the Jackson Town Council.

The CHT leveraged the Town’s contribution with private philanthropy ($1.1MM) and the sale of four Employer Option Agreements ($1.1MM), which allowed employers to secure Affordable housing on behalf of their employees. This pilot program allowed the CHT to raise meaningful capital required to support the construction of the Affordable homes while minimizing the burden on donors and taxpayers.

In addition to support from the Town, donors, and employer partners, revenue from the sale of two commercial spaces on the first floor helped support the affordability of the homes.

Today, 174 North King Street provides stable, Affordable housing for 41 people in our community. On average, King Street homeowners have worked in Teton County for over 14 years, and cumulatively have given back over 10,000 volunteer hours to our community.

Of the opportunity to purchase a home at King Street, Leslie and David Gomez said, “It has had a profound and measurable impact on our family and quality of life. Now that we live in the community where we work, it is clear the incredible toll it took on our family to commute to work and school every day. Living here gives us peace of mind that we’re all in the same area versus being across the hill, which was incredibly stressful. To have the opportunity to work and live in Jackson is a blessing. To have the priceless time back in our day means more family time, more time enjoying this beautiful place, close to friends, and our community.”

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H O US I N GTR USTJ H.O R G

HOMEOWNERS 21% Professional Services 19% Educators

16% Hospitality / Tourism 13% Government 12% Healthcare

8% Service Industry 8% Non-Profit

3% Construction

H O U S I N GTR U STJ H .O R G

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Stewardship

Redmond Street Rentals 28 homes serving 71 people

174 N King Street 24 homes serving 41 people

Mountain View Meadows 36 homes serving 134 people

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H O US I N GTR USTJ H.O R G

WITH GRATITUDE TO OUR PARTNERS:

Flat Iron Townhomes 15 homes serving 99 people

Teton County Sheriff’s Auxiliary Teton Adaptive Sports Teton County Search and Rescue Foundation

Since 1991, the Community Housing Trust has developed 183 homes that have served over 656 members of our community.

Schwabacher Meadows 11 homes serving 34 people

Daisy Bush 8 homes serving 22 people

Arbor Place & Twelve Pines 28 homes serving 109 people

Jackson/Teton County Housing Department Center of Wonder Teton County Library Foundation

Glory View 15 homes serving 50 people

St. John’s Health Teton County School District Town of Jackson H O U S I N GTR U STJ H .O R G

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Collaboration Concerned with the housing crisis in Teton County, Kathy and Paul Spicer approached the Community Housing Trust about donating a property they have held in their family for generations, believing their 13-acre property on Horse Creek would be a perfect place to develop Affordable housing.

Working together with the Spicer’s, the CHT secured approval from the Board of County Commissioners to develop 25 single family homes. In Kathy’s words, “It is obvious that Jackson’s current housing supply cannot sustain the individuals that serve this community. We are excited that our donation of land can provide housing for local employees.”

But in this marketplace, a land gift alone does not result in housing that is truly Affordable.

Inspired to make it possible for dedicated human service professionals to come home to stable, proximate, Affordable housing, the Hughes Charitable Foundation made an unprecedented $10MM gift to the CHT to support Human Service Professionals in Jackson Hole.

Like Paul and Kathy, Molly and Wayne Hughes wanted to do something meaningful in honor of the safety net supporting Teton County. “They are the unseen heroes of our community, and we want to help ensure that they can continue to meet our community’s needs in perpetuity.”

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H O US I N GTR USTJ H.O R G

PRELIMINARY HORSE CREEK SITE PLAN

Kathy & Paul Spicer

Molly & Wayne Hughes

According to Sarah Cavallaro, Executive Director of Teton Youth and Family Services, “This gift is a game changer for essential professionals who need to live where they work. The impact of this gift is twofold: we can attract and retain human service workers and we can stabilize essential services for our community’s most vulnerable populations.”

For the Community Housing Trust, it is a privilege to dedicate our efforts to employees on the front line that are providing urgent, essential services for our community’s at-risk and in-crisis residents.

H O U S I N GTR U STJ H .O R G

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H O US I N GTR USTJ H.O R G

Board Member Spotlight After experiencing the exponential growth in Jackson over

the past 20 years, I am excited to be part of this organization that develops truly Affordable homes in the Valley. The

Community Housing Trust has expanded their team to take on more projects during this critical time and they have found creative solutions putting land and partnerships together,

and capitalizing each project. I am excited to bring my

development experience to the organization to help create

new housing opportunities, while also leveraging strategies to build in a cost-effective way in Jackson’s challenging construction market.

Alexis Dittmer Vice-President

My involvement with the Community Housing Trust hits me at so many levels, and I feel extremely fortunate to be a part of this dynamic organization that does such incredible work for the community. I was originally drawn to the CHT

because I felt that the supply/demand forces in Teton

County made the economics of home ownership impossible for so many valuable community members. As someone who is financially minded and has a real passion for this

community, I was looking for some way to give back that

was authentically aligned, and I’m so proud to be part of this organization.

Shelley Holland Board member

H O U S I N GTR U STJ H .O R G

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H O US I N GTR USTJ H.O R G

Board Members

1%

Berte Hirschfield, Board President Alexis Dittmer, Vice-President Amy Minella, Treasurer Dale Hoyt, Secretary Deborah Ramo Ethan Steinberg Lannie Hoglund Van Davis Shelley Holland

NG ND RA ISI

40%

FU

LAND ACQUISITION

ADMIN

1%

Community Housing Trust 2021 Financials

NG S I US AM O H GR O PR

4%

Emeritus

Arne Jorgensen Margot Snowdon Frances Tessler

Advisory

Bomber Bryan Robert Hartman Stan Zaist

PROJECT DEVELOPMENT AND CONSTRUCTION

54%

Staff

Anne Cresswell Executive Director

Alison Lee

Project Development Director

Jennifer Scott

Homeowner & Tenant Program Director

Katie Bernasek

Marketing & Communications Director

Julia Shaw

Project Development Manager H O U S I N GTR U STJ H .O R G

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307.739.0665

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WWW.HOUSINGTRUSTJH.ORG

JACKSON, WY 83001

INFO@HOUSINGTRUSTJH.ORG

P.O. BOX 4498