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Beloit outlines HOME partnership allocations and planned housing projects for 2025

Beloit City Council · October 22, 2024
AI-Generated Content: All content on this page was generated by AI to highlight key points from the meeting. For complete details and context, we recommend watching the full video. so we can fix them.

Summary

City staff said Beloit expects roughly $150,000 in new HOME funds and $15,000 in admin funds from the Rock County Home Consortium in 2025, and described nearly $1 million in housing projects using 2025, prior‑year and program‑income funds.

Julie, speaking during the public hearing on HOME Investment Partnership funds, told council that as a member of the Rock County Home Consortium Beloit expects roughly 28% of the consortium’s allocation and estimates $150,000 in new HOME funds plus about $15,000 in administrative funds for 2025. She said the 2025 budget for housing projects will include 2025 funds, prior‑year funds, and program income, totaling roughly $1.0 million with about $166,800 for administrative dollars.

Julie detailed projects already committed or under contract: multiple new‑construction single‑family projects (addresses cited in the packet) funded at about $132,000 each, a Community Action new construction project at 2210 Forest Avenue for $150,000, and a CHDO allocation that will fund another home in 2025. She said the city is contracting with NeighborWorks for down‑payment assistance and expects to continue homeowner‑rehab and acquisition‑rehab investments, including work on a city‑owned property at 737 Bluff.

Julie told council CDA reviewed and recommended the budget; because this was a public hearing no votes were taken tonight.

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