Peconic Bay Community Preservation Fund Revenues for First Four Months of 2015 Increase 2.2% Compared With 2014

Four month revenues are $30.31 million compared with $29.66 million in 2014; Lifetime revenues for the fund top $1.02284 billion

Assemblyman Fred W. Thiele, Jr. (I-Sag Harbor) today reported that 2015 four month revenues for the Peconic Bay Community Preservation Fund (CPF) were $30.31 million, 2.2% higher than the first four months a year ago when $29.66 million was collected. April 2015 revenues totaled $7.69 million, compared with $7.81 million in April 2014.

The number of transactions for the first four months was 2,347 compared with 2,336 a year ago. Since its inception in 1999, the Peconic Bay Regional Community Preservation Fund has generated $1.02284 billion. In the last 12 months, the CPF has generated $108.24 million. The 2% tax under the CPF expires in 2030

Thiele stated, "The CPF revenues in the first four months of 2015 exceed 2014 by 2.2%. 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 four months of 2015 compared with 2014.

($)2014 ($)2015 %increase
East Hampton 7.95m 8.76m +10.2%
Riverhead 1.38m 0.92m -34.8%
Shelter Island 0.54m 0.81m +50%
Southampton 18.48m 18.04m -2.4%
Southold 1.32m 1.79m +35.6%
Total 29.66m 30.31m +2.2%