Peconic Bay Community Preservation Fund Revenues are $48.28 Million for First Half of 2015 Compared With $45.76 Million in 2014

Revenues are 5.5% above last year; cumulative CPF revenues total $1.0408 billion

Assemblyman Fred W. Thiele, Jr. (I-Sag Harbor) today reported that 2015 revenues for the Peconic Bay Community Preservation Fund for the first 6 months produced revenue of $48.28 million. A year ago $45.76 million was collected for the same period, or 5.5% percent more than last year. June revenues totaled $9.02 million. CPF revenues for the same month last year were $7.50 million.

The number of transactions for the first six (6) months of 2014 was 3,689 compared with 3,591 a year ago. Since its inception on 1999, the Peconic Bay Regional Community Preservation Fund has generated $1.0408 billion. The CPF has generated $110.3 million in the last 12 months.

Thiele stated, "The CPF revenues in the first half of 2015 exceed 2014 by 5.5%. 2014 was the largest year for CPF revenues in the history of the program. This reflects the continued strength in East End real estate and the continued availability to local Towns of the necessary revenues to protect community character."

Below are revenues by Town for the first six months of 2015 compared with 2014.

($)2014 ($)2015 %increase
East Hampton 13.87m 14.77m + 6.5%
Riverhead 1.79m 1.42m - 20.7%
Shelter Island 1.10m 0.97m - 11.8%
Southampton 26.79m 28.35m + 5.8%
Southold 2.21m 2.76m +24.9%
Total $45.76 $48.28 + 5.5%