ROCKFORD, Ill. (WTVO) — The Beloit City Council has approved a $1.16 million contribution to push forward an affordable housing project, paving the way for a new apartment complex.The Riverside Housing Project, which aims to deliver 55 low-income units, had faced a funding gap after failing to secure multiple financing grants. The recent contribution is seen as a major step forward for the project.
“With an unprecedented demand creating a lack of affordable housing options for our community’s workforce, the City of Beloit recognized the need to invest in housing on all levels and dedicated funding from its successful tax increment financing districts to help bridge the gap,” the city shared in a statement...
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Leo’s notes: Beloit’s decision to commit $1.16 million in TIF funds to keep the Riverside Housing Project moving is another reminder that affordable housing does not happen without public leadership. When gaps emerge—as they often do in workforce and low-income housing—local governments that step in help turn stalled plans into real homes for real people. With 55 units back on track, Beloit is reinforcing a simple truth playing out across Wisconsin: investing in housing is investing in economic stability, workforce retention, and the long-term health of the community.
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- - Volume: 25 - WEEK: 51 Date: 12/15/2025 2:10:26 PM -