Sag Harbor, NY – Assemblyman Tommy John Schiavoni (D-Sag Harbor) today reported that total revenues collected in the four East End towns for the Peconic Bay Community Housing Fund (CHF) were $21,616,112.43 through July 2026, while Community Preservation Funds (CPF) earned $89,393,614.78 across the five East End towns. At the end of July of this year, the CHF surpassed $100 million, representing all revenues collected since the program began in 2023.

Four of the five East End towns in the Peconic Region passed public referendums in 2022 accepting a .5% transfer tax establishing the CHF, adding to the existing 2.0% transfer tax of the CPF. The participating CHF towns are East Hampton, Shelter Island, Southampton, and Southold. The CHF programs are administered separately within each of the participating towns.

The towns can use the CHF to (a) provide financial assistance to first-time home buyers not to exceed 50% of purchase price, (b) the production of community housing for sale, (c) the production of community housing for rent, (d) rehabilitation of existing buildings for community housing, (e) housing counseling, and (f) the acquisition of real property in existing housing units, to result in the production of community housing for sale or rent.

Assemblyman Tommy John Schiavoni stated: “The fund is doing what it is supposed to do, and this strong revenue stream represents great opportunities for our region. CHF monies can be used to scale up funds when applying for state grant funding to enhance these local dollars. Local leaders have the ability to provide workforce housing development to our year-round East End community, and it is the responsibility of community leaders to come to a consensus on how to provide responsible avenues toward productive development.

These monies are a critical lifeline for our region, and they ought to be utilized to the greatest extent to make life here more affordable, and to prevent further outmigration of our nurses, firefighters, teachers, and the next generations. I commend the Towns for their work so far in preserving open space and providing housing opportunities, and I encourage greater community collaboration to preserve the make-up of our region.”

Community Preservation Funds Through July 2026