Community Housing Trust | Annual Report 2021

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Conserving community by MAKING ROOM

ANNUAL REPORT 2021
for those who contribute to our quality of life.

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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Strategic Plan

VISION

Ending the housing crisis in our community.

MISSION

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

VALUES

Compassion

Whether we’re working with the public or private sectors or with community members in our program, we approach every engagement with empathy: community members serving community members.

Determination

We’re courageous, determined and with over 30 years of expertise, we show up with creative solutions to stretch every dollar, scrupulously manage budgets, and execute quickly and efficiently. We won’t stop until our housing crisis is solved.

Stewardship

We prioritize the strategic management and investment of resources made possible through public partnerships and private gifts. We’re committed to safekeeping our organization’s valuable assets.

Collaboration

We’re at our best when we use our unique strengths to work collectively towards the common good, using innovative approaches to achieve our housing goals together.

5-YEAR GOAL

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

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Compassion

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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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HOUSINGTRUSTJH.ORG 6 21% Professional Services 19% Educators 16% Hospitality / Tourism 13% Government 12% Healthcare 8% Service Industry 8% Non-Profit 3% Construction HOMEOWNERS
Redmond Street Rentals 28 homes serving 71 people Mountain View Meadows 36 homes serving 134 people Flat Iron Townhomes 15 homes serving 99 people 174 N King Street 24 homes serving 41 people WITH GRATITUDE TO OUR PARTNERS: Teton County Sheriff’s Auxiliary Teton Adaptive Sports Teton County Search and Rescue Foundation
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Stewardship

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

28 homes serving 109 people

Arbor Place & Twelve Pines Glory View 15 homes serving 50 people Schwabacher Meadows 11 homes serving 34 people Daisy Bush 8 homes serving 22 people Jackson/Teton County Housing Department Center of Wonder Teton County Library Foundation St. John’s Health Teton County School District Town of Jackson
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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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PRELIMINARY HORSE CREEK SITE PLAN

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.

Kathy & Paul Spicer
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Molly & Wayne Hughes
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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.

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.

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Shelley
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Community Housing Trust 2021 Financials FUNDRAISING LAND ACQUISITION HOUSING PROGRAMS 54% 40% 4% 1% PROJECT DEVELOPMENT AND CONSTRUCTION ADMIN 1% 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 Staff Board Members Berte Hirschfield, Board President Alexis Dittmer, Vice-President Amy Minella, Treasurer Dale Hoyt, Secretary Deborah Ramo Ethan Steinberg Lannie Hoglund Van Davis Shelley Holland Emeritus Arne Jorgensen Margot Snowdon Frances Tessler Advisory Bomber Bryan Robert Hartman Stan Zaist HOUSINGTRUSTJH.ORG 14
307.739.0665 INFO@HOUSINGTRUSTJH.ORG WWW.HOUSINGTRUSTJH.ORG 110 E BROADWAY, 2ND FLOOR P.O. BOX 4498 JACKSON, WY 83001
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