Beloit council approves $15.8 million notes sale, rezones two Chapin Street parcels; hears CDBG year-end report and a public comment on Johnny Watts commemora

The Beloit City Council voted to award the competitive sale of general obligation promissory notes and approved a rezoning for two Chapin Street parcels, heard the required year-end report on Community Development Block Grant spending and accomplishments, and received a public comment urging a city recognition of local athlete Johnny Watts.

Council President Kevin D. Levy opened the meeting and presided over the roll call and agenda items. In the evening’s most consequential action, the council approved Resolution 2025-038 to issue and sell $15,815,000 of general obligation promissory notes to finance capital projects in the city’s capital improvement program. Greg Johnson of Ehlers, the city’s municipal advisor for the sale, told the council that five bids were received and that the winning bid from BOK Financial Securities produced a true interest cost of 3.759 percent and lowered borrowing costs by $657,122 compared with the city’s presale estimate.

The CAPER — the Consolidated Annual Performance and Evaluation Report the city must file with the U.S. Department of Housing and Urban Development — was presented in a public hearing. Community Development presenters outlined allocations and accomplishments for program year 2024, including $150,000 for affordable housing activities, $56,150 for homeless services, $94,950 for case management,…