Categorized | Government, Page 1

Peconic Bay CPF Up 49-Percent in 2013

Posted on 24 September 2013

State Assemblyman Fred W. Thiele, Jr. reported last week that revenues for the Peconic Bay Community Preservation Fund (CPF) for the first eight months of 2013 produced revenue of $58.53 million. A year ago $39.27 million was collected for the same period, or 49 percent more than last year.

August revenues totaled $5.86 million. CPF revenues for the same month last year were $4.70 million.

Since its inception in 1999, the Peconic Bay Regional Community Preservation Fund has generated $847.83 million for the preservation of open space, farmland, historic properties and recreational fields.

The number of transactions for the first eight months of 2013 was 5,472 compared with 4,057 a year ago

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

East Hampton Town has earned $18.84 million in 2013 so far, over $12.33 million in 2012, a 52.8 percent increase. Southampton Town has earned $34.07 million in 2013, a 50.5 percent increase. Shelter Island has seen the largest gains, earning $1.49 million in 2013 over $730,000 in 2012, a 104.1 percent increase. Riverhead Town has seen a 45.9 percent increase in CPF revenues in 2013, bringing in $1.62 million. Southold Town has seen the smallest gains, earning $2.5 million in 2013, a 1.2 percent increase.

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