City Council Approves TIF District for Prairie Avenue
The Beloit City Council approved the proposal to create a Tax Increment District to spur redevelopment on Prairie Avenue on Monday, September 15. The Joint Review Board – a group of representatives from School District of Beloit, Blackhawk Tech, Rock County, and the City of Beloit – will need to provide final approval on Wednesday, Oct. 1, 2025, before it can be sent to the State of Wisconsin's Department of Revenue for certification.
The City of Beloit is proposing the creation of Tax Incremental District (TID) No. 16, a major step toward revitalizing the Prairie Avenue corridor. The proposed district covers approximately 305 acres, stretching from Franklin Street parcels in the north to Moccasin Trail properties in the south, and has been identified as in need of rehabilitation or conservation under Wisconsin Statutes.
Tax Incremental Districts allow cities to make improvements in targeted areas and pay for those projects over time using the increased property taxes generated by new growth. When the city invests in infrastructure, redevelopment, or public amenities, property values within the district typically rise from the new developments. The increased tax revenue from those higher values is then used to cover the project costs, ensuring that the improvements fund themselves without raising taxes citywide to pay for the projects.
TID No. 16 is intended to support public infrastructure improvements, land acquisition, development incentives, and ongoing planning and administrative efforts. The goal is to encourage redevelopment and investment along the corridor. The plan estimates that new development could increase property values by approximately $6.19 million, with all project costs expected to be repaid through new tax revenue within the 27-year lifespan of the district.
The creation of TID No. 16 aligns with the Prairie Avenue Concept Plan, which outlines several key goals:
- Coordinate corridor-wide revitalization
- Encourage mixed-use and infill redevelopment
- Promote street-oriented building design with rear parking
- Improve visual appeal with added street trees and fewer pylon signs
- Enhance multimodal transportation options
- Expand multi-family housing opportunities
- Connect destinations with new wayfinding signage
For more information, visit beloitwi.gov or contact the City of Beloit Economic Development Director Drew Pennington at penningtond@beloitwi.gov or 608-364-6748.