Wyoming Releases Final Housing Plan, Proposes State Fund to Support Housing Development
The Wyoming Community Development Authority (WCDA) has released its final Statewide Strategic Housing Action Plan, highlighting a range of strategies to address the state’s growing housing needs, Casper Star-Tribune reports.
A key proposal in the plan is the creation of a flexible housing development fund, which would be seeded with state funds and provide financial support to communities for housing projects across Wyoming.
The need for additional housing in Wyoming has become increasingly apparent, with a statewide housing assessment showing that between 20,700 and 38,600 new housing units will be required by 2030 to accommodate population growth. According to Kimberly Burnett of Abt Associates, the firm that authored the plan, several neighboring states have already set up similar funding initiatives to tackle the nationwide housing shortage. Idaho, for example, established a Workforce Housing Fund in 2022 to support the development of workforce housing with federal American Rescue Plan Act funding.
The proposed flexible housing development fund in Wyoming would offer grants, low-cost loans, and other financial tools to aid in the creation or preservation of housing. The fund is seen as a critical resource to unlock additional funding for housing initiatives across the state.
Representative Trey Sherwood, D-Laramie, has already begun drafting legislation to establish such a fund, and hopes to have it considered by the Wyoming Legislature in the upcoming 2025 session. Sherwood is actively seeking co-sponsors for the bill, emphasizing the importance of keeping the housing conversation on the legislative agenda.
In addition to the housing fund, the plan outlines 27 strategies organized into four categories to address Wyoming’s housing challenges. These strategies include expanding resources for housing development, improving access to affordable housing, reducing regulatory barriers to new housing, and strengthening the capacity of local and state entities to support housing efforts.
Among the proposed strategies is the expansion of real estate transfer taxes, allowing communities to use tax increment financing to spur housing development, and broadening the use of the “sixth penny” tax for housing projects. The plan also recommends increasing support for manufactured home financing and establishing housing land trusts to promote homeownership opportunities.
While the creation of the housing development fund is a central focus, the plan also offers other immediate solutions for communities to implement. For example, it suggests using existing tax tools more flexibly to finance housing projects and reforming zoning regulations to accommodate smaller housing units and more affordable options.
The WCDA plans to work with a variety of partners to implement the strategies outlined in the plan, recognizing that successful housing development will require collaboration among local governments, state officials, and private stakeholders.
As the state moves forward with implementing the plan, WCDA Executive Director Scott Hoversland emphasized that this is only the beginning of the work needed to address Wyoming’s housing crisis.
