Peconic Bay Community Preservation Fund Revenues Continue to Exceed 2009

Four months of 2010 total $19.64 million, compared with $7.85 a year ago, a 150% increase over 2009
May 24, 2010
Assemblyman Fred W. Thiele, Jr. (I-Sag Harbor) today reported that revenues for the Peconic Bay Community Preservation Fund produced $4.05 million in revenue for the Peconic Bay Region for April 2010. This compares with $1.58 million a year ago. This marks a 4 month total for 2010 of $19.64 million that is 150% higher than a year ago for the same period when $7.85 million was collected.

The number of transactions has also increased for the first four months of 2010 compared with a year ago. This year there were 1,991transactions compared with 1,566 for the same period in 2009. Since its inception on 1999, the Peconic Bay Regional Community Preservation Fund has generated $624.47 million. The CPF expires in 2030. Based on recent activity, CPF revenues are projected to be in the $60 million range for 2010. Revenues for 2009 totaled $40.3 million.