Categorized | Government

Peconic Bay Community Preservation Fund Tops $43 Million in First Half of 2013

Posted on 30 July 2013

Assemblyman Fred W. Thiele, Jr. announced this week the 2013 revenues for the Peconic Bay Community Preservation Fund (CPF) for the first six months produced revenue of $43.87 million. A year ago $29.62 million was collected for the same period, or 48.1 percent more than last year. June revenues totaled $7.49 million. CPF revenues for the same month last year were $5.66 million.

The number of transactions for the first six months of 2013 was 4,100 compared with 3,051 a year ago. Since its inception on 1999, the Peconic Bay Regional Community Preservation Fund has generated $833.17 million.

“At the half year mark, CPF revenues of $43.87 million are on track to produce $85 million to $90 million, the highest annual total since 2007, before the Great Recession,” said Thiele.

East Hampton Town saw an increase of 59.2 percent in the first half of 2013, collecting $14.33 million in CPF revenue compared to $9 million last year. Southampton Town also saw gains, bringing in $25.62 million compared to $17.78 million during the same time last year, a 44.1 percent increase. Shelter Island has increased its CPF revenues by 205 percent, taking in $1.16 million for the first half of 2013, compared with $380,000 for the same time last year. Riverhead also saw gains, earning $1.06 million, a 30.9 percent increase over the same period last year when it collected $810,000. Southold Town also gained 3.7 percent in CPF revenues for the first half of 2013, earning $1.69 million.

 

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