City of Beloit allots portion of $12 million housing fund for downtown developments

Maddie Heimsch. Feb 27, 2024


BELOIT, Wis. — The City of Beloit is allocating part of its $12 million housing fund to help create housing units in the upper levels of downtown businesses in an attempt to address both the housing crisis and the need for downtown revitalization at once.


The city will use $363,000 from its TIF housing fund to incentivize downtown property owners to turn their upper levels into housing by matching the cost of doing so by 50%, for up to $30,000.


“The city has an unprecedented need for housing, from affordable housing to the executive level,” said strategic communications director Sarah Lock. “We hear from our residents that they are struggling to find housing that meets their needs and their budget.”


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