The city of Beloit is moving forward with a plan to create a Tax Increment District to help redevelopment along Prairie Avenue. The City Council approved the proposal last week Economic Development Director Drew Pennington says the goal is to revitalize the Prairie Avenue Corridor from the Franklin Street parcels in the north to Moccasin Trail properties in the south. Pennington says a final approval is needed October 1st from a Joint Review Board made up of representatives from the School District of Beloit, Blackhawk Tech, Rock County, and the City of Beloit. If approved, the TID will be sent to the State of Wisconsin’s Department of Revenue to be certified. With the TID, the city can borrow tax money to fund public infrastructure improvements.
