Fremont County Workforce Housing Assessment

1. Fremont County Workforce Housing Assessment Presented to the Wyoming Workforce Development Council Governor’s Workforce Summit May 28, 2008 Laramie, Wyoming

2. Fremont County, Wyoming

3. Energy CorridorWyoming and Surrounding States Courtesy of US Energy – Riverton, WY

4. Wyoming’s Energy Impacted Counties

5. WIND RIVER INDIAN RESERVATION Fremont County Municipalities

6. IntroductionOne Year Ago • Process - WWFDC - Innovative Solutions - RFP • Community discussion led by Eric Heiser - Central Wyoming College in Riverton, WY June 26, 2007 • Housing Needs Assessment for each community Dubois Hudson Lander Pavillion Riverton Shoshoni • Develop Housing Action Plans using grassroots methods • Implementation - Regional Housing Office (CHDO)

7. PHASE ONE - HOUSING NEEDS ASSESSMENT Need to know where we are at before we can determine what is needed and what solutions are appropriate. Evaluated: Housing stock and production Existing housing stock characteristics and conditions Infrastructure capacity by community

8. HNA…...continued Current Needs and Future Needs For: Rental Units Homeownership Temporary Living Quarters (TLQ) Senior Housing Mobile Home Courts Identify Affordability Factors Recommendations

9. Why this approach? • Individually, communities do not have the resources or capacity to assess their housing stock or develop effective housing action plans to address the housing shortage. • How real is the housing shortage? • What type of housing is needed? • Does every community need the same mix of new housing? • How should workforce housing affordability be defined? • Challenge perceptions • Workers cannot afford to purchase a home in Fremont County • Workers cannot find suitable rental housing • No available building sites within communities • No available place to live that is decent • Cost of new construction prohibits residential development for average workers

10. Challenging perceptions…......continued Where is the housing growth actually happening? Are all communities experiencing the same thing? What influences are affecting towns and communities? What can be done to help communities and encourage development of workforce housing units? Communities and employers do not individually have resources or capacity to assess their housing stock or develop housing plans that fit their community’s unique needs. There is no local housing organization that can carry out necessary actions to make a difference in the workforce housing market. Collaboration is needed for organizational strength and authority that each community cannot achieve independently. Towns and cities need an effective tool that will place them in control of managing residential growth.

11. PHASE TWO - DEVELOP HOUSING ACTION PLANS USING GRASSROOTS METHODS Light food and beverages will be available between 5:30-7:00 pm

12. TOPICS FOR HAP DISCUSSIONS PLANNING EXISTING STRUCTURES NEW CONSTRUCTION MANUFACTURED HOMES, MOBILE HOMES, AND PARKS INFRASTRUCTURE FINANCING / FUNDING REGIONAL COOPERATION COMMUNITY SUPPORT IMPLEMENTATION OTHER TOPICS - DEFINED BY EACH GROUP

13. Implementation of HAP – Development of a regional housing office Organizational development (ALIGN) Non-profit CHDO (Community Housing Development Organization) Develop public and private partnerships for new development and redevelopment Define and develop programs that fit the needs of the communities Pursue funding for programs PHASE THREE - IMPLEMENTATION

14. Success…to date…Best Practices! Comprehensive Study of Housing Needs Released April 30, 2008 • Defined affordability band - $48,100 MFI worker • Identified household growth projections for each community by income category for 2010, 2015, and 2020-2030 • Identified number of new construction residential rental units and single-family dwellings by income groups for the same time periods above • Identified number of existing housing units that are in need of rehabilitation

15. Best Practices…………………………… continued • Identified rural residential subdivision effect on towns and cities • Identified undeveloped residential lots in each community • Identified infrastructure capacities

16. What’s next? • Phase Two -Housing Action Plan Meetings – June 2008 • Process • Focus groups……………………………………..and

17. Focus Groups – Funneling Effect Phase Three – Implementation Organizational Development Board Recruitment and Training Strategic Plan • Plan of Operations and Policies • Funding – Public and Private Partnerships • Hire Executive Director and Staff • Housing Programs and Services

18. Community Housing Market ComparisonFremont County, Wyoming

19. Individual Community Housing Sales Comparison with Affordability Band Identified

20. Mortgage AffordabilityBy Interest RateThe yellow figures indicate a mortgage affordability band for Median Family Income of $48,100. Affordability is as fluid as the existing rate at time of home purchase. 

21. Mortgage Capacity-By Income…Home Purchasing PowerFor illustration purposes, a 6% interest rate and 30-year term mortgage is used with monthly taxes and insurance estimated. Figures are rounded to nearest $100. Qualifying mortgage amount here is based on 30 percent of income. *Loan subsidy is needed to increase purchasing power for households in these income groups if the qualifying mortgage amount exceeds the amount in the fourth column.

22. Rental Housing Here is a table depicting affordable rents based on 30% of gross monthly income. The affordability band for median family income, $48,100, is indicated in yellow. *Rental assistance or subsidy is needed for this income level when rent exceeds the amount indicated in the second column.

24. KIRKHAM & ASSOCIATES, LLC 455 Big Bend Riverton, WY 82501 On behalf of Fremont County employers and communities, THANK YOU! Your financial support of this important project is greatly appreciated! It will benefit Fremont County for years to come as they tackle the workforce housing issues. Photo credit: Wind River Visitors Council Photo credit: James Gores and Associates, P.C.