Commission turns down housing program

The county commissioners have turned down a request from Cheyenne Housing Authority (CHA) for permission to launch the Welcome Home Wyoming housing assistance program in Crook County. All three commissioners expressed doubts as to the need for the program in this area and how it would actually benefit potential homeowners.

“A lot has happened across the state and other places since March when we first had our conversation,” said Greg Hancock of CHA, referring to the first presentation given to the commission on this topic.

Hancock explained that the Welcome Home Wyoming program is sponsored by CHA and has been in operation since 2014, successfully making loans of over $130 million to more than 725 families during that time. The intent, he said, is to help address the lack of affordable ownership opportunities in Wyoming.

“All we’re asking is that the commissioners approve the resolution,” said Hancock, stressing that there is no impact, cost or reporting requirement for the county. The resolution, he said, would allow lenders and home buyers in Crook County to pursue the opportunity and take advantage of the program.

CHA has introduced Welcome Home Wyoming to nine counties so far, Hancock said.

“We were doing really well until mid-March, and then we got bogged down with obviously the focus on health,” he said. “We’re resuming now that effort.”

Commissioner Kelly Dennis questioned whether the program will offer loans to people who wouldn’t be able to get credit somewhere else. Hancock reassured him that a borrower must prove they meet the criteria for the loan, such as credit level, because CHA is committed to not putting people into home ownership when they are not qualified to maintain that loan over the long term.

The downpayment, he said, is intended to make a difference by allowing people to enter home ownership sooner than they would if they had to save the amount first. Otherwise, Hancock said, borrowers qualify for mortgages just as they would usually need to.

Commissioner Fred Devish expressed that he doesn’t understand the benefit of paying a higher interest rate on the overall mortgage. This was explained by CHA representatives as being worthwhile because the authority has been able to negotiate relationships and superior products that buyers cannot get on their own in the marketplace.

The program, they said, is an economic driver that encourages quality people with quality jobs to move to Wyoming.

Though Dennis expressed appreciation for CHA representatives taking time to offer their presentation, none of the commissioners felt compelled to pass a resolution to allow the program in Crook County. Hancock asked what would be needed to pique the commission’s interest, to which Dennis said he would need to see proof that there is a need for the program here and Devish said he would like to see some positive reinforcement from the nine counties already involved with it.