BELOIT — The Beloit City Council on Tuesday is going to discuss whether to give some or all of a $3 million affordable home building incentive to a Madison-based company that already is getting $3 million from the city.
In 2024, the Beloit City Council awarded $3 million each to two housing developers to build affordable housing complexes in the city. The money came from expiring tax increment financing districts and were one-time incentive payments meant to boost home and apartment building in the city.
One of those two projects was canceled when the developers, The Alexander Co., which hoped to build seven multi-family buildings with a total of 94 units off Gateway Boulevard east of Interstate 90, did not receive housing tax credits from the state. Housing tax credits help low-income and moderate-income housing developers finance projects because they are able to sell the credits to other developers to raise capital....
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- - Volume: 25 - WEEK: 50 Date: 12/8/2025 2:59:54 PM -