Local Assemblyman Announces Revenues For Peconic Bay Community Preservation Fund

Assemblyman Fred W. Thiele, Jr. (I-Sag Harbor) recently reported the revenues for the month of February for the Peconic Bay Community Preservation Fund.

The fund produced $6.95 million in revenue for the Peconic Bay Region for February 2015 which decreased compared to the $7.60 million total revenue produced a year ago, or an 8.6% decrease for the month.

The year-to-date total is $15.32 million which is a 4.9% increase compared to the $14.61 million total a year ago.

Since it was created in 1999, the Peconic Bay Regional Community Preservation Fund has generated $1.00784 billion for the life of the CPF Program.

Over the past year, the fund has generated $108.40 million.

The 2% transfer tax under the CPF expires in 2030.

The total revenue for East Hampton Town increased from $3.66 million last year to $4.17 million this year; for Riverhead Town decreased from $440,000 last year to $360,000 this year; for Shelter Island decreased from $510,000 last year to $360,000 this year; for Southampton Town increased $9.41 million last year to $9.74 million this year; and for Southold Town increased from $590,000 last year to $680,000.

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