Assemblyman Fred Thiele Reports Revenues For Peconic Bay Community Preservation Fund

Assemblyman Fred W. Thiele, Jr. (I-Sag Harbor) reported on Thursday that revenues for the Peconic Bay Community Preservation Fund (CPF) for the first 10 months of 2014 produced revenue of $82.38 million.

A year ago, $75.73 million was collected for the same period, or 8.8% more than last year. October revenues totaled $10.56 million. CPF revenues for the same month last year were $11.03 million.

Since its inception in 1999, the Peconic Bay Regional Community Preservation Fund has generated $967.12 million. The CPF has generated $102.1 million in the last 12 months.

“The CPF continues to see steady growth in revenues, exceeding 2013 by 8.8%. 2013 was the second largest year for CPF revenues, exceeded only by 2007. For the first 10 months, CPF revenues have been consistently above $7 million per month,” Thiele said. “In fact, October’s total is the largest total of any month in 2014. This reflects the continued strength and stability in East End real estate and the continued availability to local Towns of the necessary revenues to protect community character. At the 10 month mark, CPF revenues are on track to produce more than $98 million, which would be the highest annual total in the history of the program.”

Below are revenues by Town for the first 10 months of 2014 compared with 2013:

• East Hampton - 2013: 23.88 million 2014: 23.97 million
• Riverhead - 2013: 2.1 3 million 2014: 2.87 million
• Shelter Island - 2013: 1.67 million 2014: 1.76 million
• Southampton - 2013: 44.50 million 2014: 49.27 million
• Southold - 2013: 3.54 million 2014: 4.50 million