Upper Floor Housing grants available in Beloit

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.”