Jackson Street Apartments - Workforce Units
Workforce Weighted Drawing Entry Eligibility Highlights
- 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).
- 75% of the Household’s combined income must be earned working for a business located in Teton County.
- Household must live in the home 10 months out of each year.
- Household may not own any residential real estate within 150 miles of Teton County.
- There are no income or asset limits for workforce rentals.
- There are no minimum occupancy requirements for workforce rentals.
- All forms needed to enter this weighted drawing can be found here, under "Rental - Weighted Drawing Entry Forms".
- Please click here for information for Critical Service Providers (CSPs).
- Deadline to Apply: Tuesday, January 23, 2024, by 4:00 PM. No late or incomplete entries will be accepted.
- Please note that you must have an updated and verified Online Intake Form account before you can apply for Workforce units. You may create this account at any time prior to application.
Number of Workforce units available
- 1 one-bedroom unit
- 1 two-bedroom unit
- 1 three-bedroom unit
About the Units:
- Range, refrigerator, dishwasher, microwave, washer & dryer.
- 1 parking space.
- 1 pet allowed. A pet deposit will be required and is equal to one month's rent or $1,000, whichever is greater.
- 12-month leases available.
- Initial rental term estimated to begin March 2024, depending upon construction completion.
- First month's rent + security deposit + pet deposit (if any) will be due at signing.
- Security deposit is equal to one month's rent or $1,000, whichever is greater.
Rent Rates by Unit Type
Calculation of Income: Household income is calculated based on the current income earned by all intended adult occupants of the Restricted Housing Unit at time of weighted drawing entry using the current household income to estimate an annual (12 month) income basis.
Self-Employment Income Calculation Policy:
Gross income is used minus cost of goods sold (not cost of goods in inventory – that is an exempt asset). Equipment, vehicles, furniture, fixtures, etc. are already exempt from being counted as assets so they are not allowed to also be deducted from income.
Businesses that have at least 3 years of income.
- Three years of tax returns will be used to calculate an average income.
Businesses that do not have 2 full prior years of income:
- Tax returns will be used to get gross income earned in the first year of business minus cash expenses (if taxes have not been paid, use the Profit and Loss for that year to get gross income minus cash expenses). Divide by the number of months the business was operating during that year. Multiply by 12 to get one year of income for the first year.
- If the business has a full year of income in the second year of operation, use the tax returns to get gross income minus cash expenses. This will be the income for the second year.
- If there is no income for the current year, average the first and second years.
- If there is income for the current year, use the Year to Date (YTD) Profit and Loss to get gross income minus cash expenses. Divide by the number of months to date in the current year. Multiply by 12 to get on year of income for the current year.
- Average the current year with the past year(s).
- If there is only the current year, use the current year number.
Businesses that have 2 full prior years of income:
- Tax returns will be used for each of the 2 prior years.
- Take the gross income minus cash expenses for each year.
- Use the YTD Profit and Loss for the current year. Take the gross income minus cash expenses. Divide by the number of months to date in the current year. Multiply by 12 to get one year of income for the current.
- Average the current year with the 2 prior years.
- If there is no income for the current year, do number 1 for the 2 prior years and average the 2 prior years.
- Use the steps above to get the average monthly income. Multiply by 12 to get one full ear of income.
**We understand that our applications to enter 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.