Plainfield panel approves 2027 TIF pass-throughs, raises minimum coverage to 150%
The Plainfield Redevelopment Commission voted to adopt 2027 tax-increment-financing pass-through amounts and a policy raising minimum coverage to 150% to preserve borrowing capacity for upcoming projects; commissioners praised staff work and Baker Tilly's analysis.
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Emma Adlam, a consultant with Baker Tilly, told the Plainfield Redevelopment Commission on June 1 that staff and consultants recommend increasing the TIF minimum coverage target to 150% to ensure adequate capacity for future projects and potential bond issuances. "Leaving more of a buffer, if you will," Adlam said, noting that the change responds to uncertain project timing and the need to smooth tax-rate impacts across overlapping taxing units.
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