Upper Floor Housing grants available in Beloit

Upper Floor Housing grants available in Beloit Main Photo

27 Feb 2024

BELOIT — Funding now is available to create additional housing units in downtown Beloit while preserving economic vitality and the historic culture of the community.

The Downtown Upper Floor Housing grant program was authorized by the Beloit City Council on Monday, Feb. 19. This program provides funding for downtown property owners to create housing space in the upper floors of eligible structures.

This Downtown Beloit Association (DBA) program provides grant funding towards a percentage of the project and requires matching funds from the applicant. A virtual information session about the funding opportunity will be held at 1 p.m. Tuesday, March 12. To register, contact Downtown Beloit Association Executive Director Shauna El-Amin at shauna@downtownbeloit.com.

Additional information on the grant program, project eligibility and the application can be found at www.beloitwi.gov/tifhousing.


“The city of Beloit recognized the positive impact that downtown residents can have on the economic vitality of the downtown,” said Shauna El-Amin, executive director of Downtown Beloit Association (DBA). “This program will help improve our downtown while boosting the housing stock available in Beloit.”

This program was introduced as the Beloit community faces a housing shortage in all levels of homes. The city of Beloit is investing nearly $12 million into projects that will help meet the community’s housing needs from affordable housing to executive-level housing. The investments are being funded by the city’s TIF Housing Fund, which is a unique opportunity to use tax increment from the city’s successful tax increment financing districts toward housing.

“These one-time funds have the potential to create a tangible, positive impact on growing the number of residents in our community,” said Drew Pennington, city of Beloit economic development director. “Available housing for our current and future residents is one of the top concerns of our business community. As our employers attract quality candidates to the area, we want those employees to create their life in our city as residents of Beloit.”

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