Nine legislators are co-sponsoring a bill that would appropriate $30 million for a revolving fund that would loan money to local governments, housing authorities and nonprofits for affordable housing.
Senate File 64, “Investment in Wyoming housing” earmarks 80% of the funds for construction, rehabilitation and land acquisition. Twenty percent could be loaned for planning for affordable or workforce housing.
Describing “a critical shortage of adequate, affordable housing,” the bill says the loans would be in the public interest. The measure would promote the state economy by “retaining a talented workforce, increasing employment opportunities, addressing rising home costs and fostering economic stability,” according to the bill.
Citing a 2022 survey by the Wyoming Association of Municipalities, co-sponsors said 90% of cities and towns have “some sort of shortage,” whether it is of affordable, workforce or senior homes.
Rep. Trey Sherwood, a Laramie Democrat, said the problem became clear when she was campaigning door-to-door.
“Every time I’ve been out it is absolutely the issue,” she said. She quoted one encounter during which a resident said, “My kids had to move away, now I can’t see my grandkids grow up.”
For Rep. Elissa Campbell, a Casper Republican and co-sponsor, the issue literally hit home when one of her children graduated from college.
“My youngest is living in my basement,” she said. “There is no affordable housing, whether it is renting or buying.”
Tribal governments too
“We cannot keep our children here or attract new families if we don’t have housing infrastructure,” co-sponsor Sen. Evie Brennan, a Cheyenne Republican, said in a statement announcing introduction of the bill. Wyoming is one of three states that doesn’t have a fund like the one proposed, she stated.
Recipients – local governments, housing authorities and nonprofits — would be located in the state, the bill says. Loans would be interest free.
“My youngest is living in my basement.”
Elissa Campbell
The bill would add a section to laws governing the Wyoming Community Development Authority. It would make rules and grant loans subject to review by the Office of the Attorney General.
Funds for the $30 million would come from the state’s Strategic Investments and Projects Account or, if that account is repealed, from the Legislative Stabilization Reserve Account.
Tribal governments and nonprofits like Habitat for Humanity would be among those eligible for loans.
“We talk a lot about community development and diversifying our economy,” Brennan said in her statement. “If we are going to do these things, we have to have a workforce. In order to have that workforce, we have to have affordable housing. We cannot keep our children here or attract new families if we don’t have housing infrastructure.”