Schwabacher Meadows Development Project Overview
This document provides a comprehensive overview of the Schwabacher Meadows development project, including its history, current zoning, reasons for project hold, current status, and board discussion questions. The project, initiated by Teton County School District No. 1, aims to provide affordable housing for teachers and staff. However, various legal and financial challenges have delayed progress, prompting a reassessment of the project's urgency in light of changing economic conditions. County approval for the design of 11 units has been obtained, but further development planning and financing are required before construction can proceed.
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Presentation Transcript
Schwabacher Meadows TCSD #1 Board Workshop June 12, 2013
History of Site 1969: deeded to School district by Albert Schwabacher estate trustees School Purposes Only 1999: New Wilson School built 2002 : School Purposes to include employee housing 2005: Wilson Park proposed (TCSD, TCHA, Private owner) 2007: Wilson Park platted 2008: First Schwabacher Meadows affordable housing plan to county 2009: JHCHT partner to oversee project 2010: Title Insurance purchased: removing reversionary interest to address financing barrier 2010: Second Schwabacher development plan to county (expires 2014)
Current Zoning: P/SP Zone (from LDR s): Public/Semi-Public (P/SP) District. The purpose of the Public/Semi Public(P/SP) District is to provide locations for new and existing uses and facilities of a public or semi- public nature. Land in the P/SP District and/or facilities operated therein shall be under the control of federal, state, or local governments, or other governmental entities such as a school district or hospital district. IR Use (from Susan Johnson letter clarifying approval of BCC): The units shall be offered and/or utilized as residential facilities for students and staff of schools; residential facilities associated with other types of instruction, education, training and religious activity.
Reason for Hold on Project Applicant Teton County School District No. 1 faced complex legal issues that affected its ability to obtain financing for the project; those issues took longer than anticipated to resolve. In addition, economic conditions have changed since the inception of this project, and the need for the project (affordable teacher housing) is not as urgent as a few years ago. Currently, teachers are able to purchase homes at market prices. The ability of the School District to obtain financing is still uncertain, as well.
Current Status County Approval of design 11 units that have 2014 Building permit: Need to develop grading/landscaping plan Financing?? Update data Cost of units (rebid) Staff needs survey
Board Discussion Questions? Wonderings? New ideas? Points for consideration?
