The Flat Creek Apartments complex was built with taxpayer funds. The owners enjoy a FREE 99-year lease at the Teton County Fairgrounds. 99.98% of the building is owned by an East Coast equity firm (RedStone Equity), however the land is still zoned for public use! BlueLine Development and Tyler Davis pushed this project through against the wishes of many locals. Years later, I have detailed the actual deal the public got, despite being told that this was a “low-income” housing complex for people earning less than 60% AMI.
(don’t forget about the Teton County Fairgrounds! The housing authority and Town Council hope no one remembers that the Rodeo lease expires on Dec 31st! Scroll to the bottom for more info!)
Summary Points:
- The Flat Creek Apts have never paid property tax!
- The J/TCHA only owns .0001 percent of this complex!
- Their rental projections anticipated a $500,000 PROFIT the first year!
- They also receive $1,387,000 per year in federal tax credits that they sell for profit!
- They received $2.25 million in FREE grants from the town and state!
- The Flat Creek Apartments is sitting on a FREE 99-year lease at the Teton County Fairgrounds!
- The contracts show that a tenant does NOT have to be “low-income” to live there!
- Local, Tyler Davis, and the out-of-state developers paid themselves a $1 million development fee!
- The developers ONLY put in $100 to this project!
- We IMPORTED “low-income” people from OTHER STATES to move into the FCA!
- Director Norton agreed to take ANOTHER .0001 percent interest in the Snow King Apartments located at 550 Rodeo Drive.
- According to BlueLine Development, this was for “purposes of achieving a property tax abatement”!
- The former owners PAID property tax!
- No new housing of deed restrictions were being created in the sham deal. The Snow King Apts have always been workforce housing.
This is the Wyoming Community Development Authority’s grant and tax credit allocations:
This is an actual redacted tenant file. Notice that tenant was collecting unemployment AND LIVING in another state. They also had $200,390 in their bank account!
This is from the actual contracts. The developers paid themselves $1 million, and Tyler Davis was the “local” guy who was paid 33% of the developer’s fee.
This is from the actual contracts to determine who can live at the Flat Creek Apartments. Notice the “initial occupancy” requirement. Also, notice Section 3.2.4, which details what happens when a tenant makes MORE than 80% AMI (remember we were told this building was for tenants making less than 60% AMI)!
Here is where Christian Pritchett, the Developer for BlueLine, told April that tenants do NOT have to live in Teton County to apply, and they do NOT have to be “low income”. Director Norton has known this information since 2022, she just failed to notify members of the public!
Here is BlueLine Development asking Director Norton to take a .0001 percent interest in their new investment project!
Here is one example where we see there were text messages between Director Norton and BlueLine Development. However, they deleted their text messages!
