Downtown Beloit Upper Floor Housing Grants
We’re excited to share that Beloit’s downtown is growing with 15 new upper-floor housing units, representing nearly $2 million in investment.
The City of Beloit contributed $363,000 in grants from its TIF Housing Fund to support the creation of 13 of these units, with two additional units built without grant funding. Property owners funded the remaining costs.
This initiative is part of the city’s ongoing efforts to meet Beloit’s housing demand. Other projects designated to increase affordable housing in our city are ongoing.
The Downtown Business District Upper Floor Housing Grant Program, administered by the Downtown Beloit Association, was designed to promote the continued use and maintenance of commercial and mixed-use buildings in the Downtown Beloit Business Improvement District by making funds available for creating upper floor housing in eligible structures as a means to preserve the historic culture of our community. This program provided grant funding towards a percentage of the project, and was created through the City of Beloit in recognition of the positive impact that downtown residents can have on the economic vitality of the downtown.