Studies have shown that historic districts stabilize and/or increase property values in a designated area. The Village offers two matching grant programs: the Rehabilitation Grant Program and the Façade Improvement Program.
The Illinois Property Tax Assessment Freeze Program is available through the Illinois Historic Preservation Agency. Tax credits of 20% and 10% are available through the National Park Service.
Village Rehabilitation Grant Program
Provides a matching grant up to $10,000 for preserving, restoring, or rehabilitating the historic character of a structure’s exterior. This program is available for historic landmarks and contributing properties located within historic districts.
Please contact Planning Staff at (815) 439-2824 or via email for more information and prior to filling out an application.
Village Facade Grant Program
This program is for properties located within the TIF district in downtown Plainfield. The boundaries for the TIF district are here and additional information on the facade program is online. Historic Preservation is not a requirement of the facade grant program but the degree to which the building is preserved is considered.
Illinois Property Tax Assessment Freeze Program
For owners of registered historic residential structures of up to six units that has a substantial rehabilitation that significantly improves the condition of the building. At least 25% of the property’s market value must be spent on an approved rehabilitation project. With the program, the assessed valuation of the property is frozen for eight years at its level the year the rehabilitation began. The valuation is then brought to market level over a period of four years. Additional information is available from Planning Staff and the Illinois Historic Preservation Agency Property Tax Assessment Freeze Program.
Historic Preservation Tax Credits
There is a 20% tax credit for a substantial rehabilitation of income producing properties that are certified as historic. This is available for commercial, agricultural, industrial, and rental properties. A 10% tax credit available for non-contributing, non-historic structures built before 1936. Additional information is available from Planning Staff, the National Park Service – TPS Tax Incentives and the National Trust – Federal Rehabilitation Tax Credits.