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Beloit awards $1 million TIF housing grant to Next Generation for Creek Woods; developer and staff outline tree-preservation measures
Summary
The City Council approved Resolution 2025069 to award $1,000,000 from the TIF housing fund to Next Generation for the Creek Woods development (up to 138 units), subject to land-use approvals and a development agreement that will include tree-preservation requirements.
The Beloit City Council voted to award a $1,000,000 New Market Rate Housing Grant from the city's TIF housing fund to Next Generation for the Creek Woods development, a project proposed to create up to 138 market-rate residential units near Murphy Woods and Creek Road.
Staff said the grant program—authorized under the council's TIF housing project plan approved Nov. 20, 2023—was created to provide gap financing for on-site infrastructure such as water mains, sewer mains and electric. The staff report noted five applications were received and that Next Generation’s proposal best matched the program priorities.
Drew, a city staff presenter, described standards in the subdivision and tree-preservation ordinances that apply to developments with mature woodlands. Under current city rules a full tree-protection plan is required only if more than 40% of a mature woodland's canopy is removed in areas considered rights-of-way or easements;…
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