Local Assemblyman Reports 2015 First Quarter Revenues For Peconic Bay Community Preservation Fund

Assemblyman Fred W. Thiele, Jr. (I-Sag Harbor) recently reported the 2015 first quarter revenues for the Peconic Bay Community Preservation Fund (CPF).

The total revenue for the first quarter was a total of $22.62 million, 3.5% higher than the first quarter a year ago when $21.85 million was collected.

In March 2015, revenues totaled $7.31 million, compared with $7.25 million in March 2014.

The number of first quarter transactions was 1,240 compared with 1,716 a year ago.

Since its began in 1999, the Peconic Bay Regional Community Preservation Fund has generated a total of $1.01515 billion.

In the last year, the CPF has generated $108.46 million. The 2% tax under the CPF expires in 2030.

“The CPF revenues in the first quarter of 2015, exceeded 2014 by 3.5%. 2014 was the largest year for CPF revenues in the history of the program,” Thiele said. “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 quarter of 2015 compared with 2014:

East Hampton

• 2014 revenue: $5.23 million
• 2015 revenue: $7.06 million
• % Increase: +35.0%

Riverhead

• 2014 revenue: $850,000
• 2015 revenue: $750,000
• % Increase: -11.8%

Shelter Island

• 2014 revenue: $520,000
• 2015 revenue: $410,000
• % Increase: -21.2%

Southampton

• 2014 revenue: $14.30 million
• 2015 revenue: $13.29 million
• % Increast: -7.1%

Southold

• 2014 revenue: $950,000
• 2015 revenue: 1.10 million
• % Increase: +15.8%

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