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Beloit council approves resolution to create Tax Incremental District 16 along Prairie Avenue
Summary
Council voted to approve a resolution to create Tax Incremental District (TID) No. 16 covering roughly 305 acres along Prairie Avenue; the plan now moves to the Joint Review Board and state certification.
The City Council of the City of Beloit on Sept. 14 approved Resolution 2025-118 to create Tax Incremental District Number 16 along Prairie Avenue, a district staff said covers roughly 305 acres and 113 parcels and is intended to support infrastructure and development incentives along the corridor.
The resolution directs staff to advance the TID project plan to the Joint Review Board for its final consideration and, if approved there, to the state for certification. City staff said the district would use tax increment financing: the existing taxable value as of Jan. 1, 2025 becomes the base value;…
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