CPF Revenues Continue To Rise

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Revenues from the Peconic Bay Community Fund for the third quarter skyrocketed this year over last, up 46.5 percent from 2012 numbers, according to information provided by Assemblyman Fred W. Thiele Jr.

Total CPF revenues for the Five Towns for the first nine months of 2013 produced revenue of $64.7 million. Revenues from the same period last year were $44.17 million.

In East Hampton Town, third-quarter revenues for 2013 were $20.92 million, up from $13.66 million from last year, a 53-percent increase. In Southampton Town, third-quarter revenues for 2013 were $37.41 million, up from $25.68 million, a 45-percent increase.

The three other towns in the Five Town area also boasted CPF revenue increases. In Shelter Island Town, third-quarter revenues for 2013 were $1.61 million, up from $.83 million, a 94-percent increase. In Riverhead, third-quarter revenues for 2013 were $1.77 million, up from $1.25 million, a 41-percent increase. In Southold, third-quarter revenues for 2013 were $2.98 million, up from $2.74 million, an 8.8-percent increase.

The number of residential home sales also grew significantly, according to information provided by Mr. Thiele. The number of transactions for the first nine months of 2013 was 6,114, compared with 4,532 a year ago.

The final 2013 numbers are on track to be the best in the past half a dozen years, according to the assemblyman.

“At the 3/4 year mark, CPF revenues are on track to produce $85 to $90 million, the highest annual total since 2007, before the Great Recession,” Mr. Thiele said.

Since its inception on 1999, the Peconic Bay Regional Community Preservation Fund has generated $854 million.

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