Preservation Program - Down Payment Assistance, Deed Restriction Purchase


The Preservation Program was approved by the Jackson Town Council and Teton County Board of County Commissioners January 11, 2021. This program will use $1,000,000* from the 2019 Specific Purpose Excise Tax ("SPET") Community Housing Priorities fund to purchase Workforce Ownership deed restrictions on existing homes in Teton County, Wyoming. This will be done in one of two ways during the pilot phase of the program: 

  1. The Housing Authority will pay a household to record a permanent deed restriction on their property, or 
  2. A household may apply for down payment assistance to buy a property in return for recording a deed restriction on the property once the sale closes. 

Steps to Apply - Down Payment Assistance - Up to 20% of the Purchase Price or Appraised Value, Capped at $200,000

  1. Complete or update your online Intake Form.
  2. Get Prequalified for the Program 
  3. Apply for Down Payment Assistance- once you have a home under contract
    • You will be required to include the following as part of your application:
      • Current appraisal & inspection reports for the property
      • Copy of contract to purchase the property
      • Lender's loan qualification and approval
      • Completed Affidavit for Current Employment
      • Full credit report with credit score within the last year
      • A copy of your most recent tax returns
      • If self-employed, tax returns for the 3 most recent years and a Year-to-Date Profit & Loss statement
      • Verification of Citizenship or Lawful Permanent Resident
      • Copies of recent bank statements and investment account statements
      • Signed Certification & Oath
  4. Once approved, sign Agreement to Sell Deed Restriction
  5. At closing, sign Workforce Ownership Deed Restriction
  6. Annually, requalify for the Workforce Program - no other residential real estate ownership, 75% household income earned locally, at least one person works a minimum of 1,560 hours per year for a Local Business. 

Steps to Apply - Record a Deed Restriction on Your Existing Residence - Up to 20% of Appraised Value, Capped at $200,000

  1. Complete or update your online Intake Form.
  2. Apply to Record a Restriction on Your Home
    • You will be required to include the following as part of your application:
      • Current appraisal & inspection reports for the property
      • Completed Affidavit for Current Employment
      • If you are retired, submit Completed Affidavit for Previous Employment
      • A copy of your most recent tax returns
      • If self-employed, tax returns for the 3 most recent years and a Year-to-Date Profit & Loss statement
      • Verification of Citizenship or Lawful Permanent Resident
      • Copies of recent bank statements and investment account statements
      • Signed Certification & Oath
  3. Once approved, sign Agreement to Sell Deed Restriction
  4. Record Workforce Ownership Restriction on your property, receive payment for restriction
  5. Annually, requalify for the Workforce Program - no other residential real estate ownership, 75% household income earned locally, at least one person works a minimum of 1,560 hours per year for a Local Business.


*The pilot phase for the Preservation Program will last until funding runs out, at which point staff will report to the County Commissioners and Town Council who may vote to provide additional funding for the program. 

Questions? Please email us at housing@tetoncountywy.gov us or give us a call at 307-732-0867.