Glossary

Commonly used acronyms or phrases

  • It is a local non-property tax to maintain and increase commercial air service to Friedman Memorial Airport through promotion and minimum revenue guarantees.

  • Affordable Housing; industry term in reference to household AMI and generally meaning that the occupant(s) are paying no more than 30% of their gross household income adjusted towards housing costs, including utilities

  • Accessory Dwelling Unit

  • Area Median Income; used to define income levels of households eligible for AH; Is the midpoint of a town or region’s income distribution. Half of the families earn more and half earn less than the median. AMI is often used to define income limits of households eligible for AH.

  • ARCH Community Housing Trust; non-profit AH developer for community and manager of many AH units throughout the valley

  • Blaine County Housing Authority; a public organization designed to promote, preserve, and plan for long-term supply of AH. BCHA manages the wait list for housing on their list, but not all of the AH in our valley.

  • Community Housing; a term defined in many codes to mean a living unit that is restricted by size, type and cost, and/or that is for sale or rent exclusively to individuals meeting income, occupancy, and other affordable community housing criteria established in an approved community housing plan.

  • A legally binding, recorded restriction on property typically used to ensure its ongoing affordability.

  • Fly Sun Valley Alliance; non-profit charged to manage MRG effort

  • U.S. Department of Housing and Urban Development

  • Idaho Housing and Finance Association; state agency that distributes HUD and LIHTC funds and provides a variety of other housing assistance programs throughout the state, such as loan programs and finance assistance.

  • Ketchum Urban Renewal Agency

  • Low Income tax credit funding allocated by U.S. Dept. of Treasury, federally funded with focus on acquisition, rehabilitation, or new construction of rental AH projects greater than 20 units.

  • LOT is a local sales tax allowed for Idaho resort cities to provide revenues on chosen tourist-related items.

  • Local option tax levied with 60% resort city (10,000 population or less) voter approval; Idaho state statute

  • Minimum Revenue Guarantee; an agreement with airline to cover the gap between seats sold and actual revenue

  • Request for Proposal; mechanism used to evaluate AH proposals

  • Tiny Homes on Wheels

  • Visit Sun Valley; destination marketing organization for our area

  • Wood River Community Housing Trust; non-profit AH developer for the community with a focus on rental housing for renters earning 80-120% AMI