CPF Revenues Were Down In June

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Community Preservation Fund revenues were down in June, compared to 2015, for the fourth consecutive month, State Assemblyman Fred W. Thiele Jr. reported last week.

June revenues totaled $7.38 million, while CPF revenues for the same month last year were $9.02 million.

Overall, the first half of this year was down 4.4 percent compared to the same period in 2015. The CPF took in $46.16 million from January to June in 2016, compared to $48.28 million last year. The number of transactions for the first six months of 2016 was 3,125, compared with 3,689 a year ago.

“While CPF revenues are on pace to exceed $90 million for the year, the towns should take note of this downward trend. Only the Town of East Hampton has shown a substantial increase in revenue over last year, at plus-11.6 percent,” Mr. Thiele said in a press release.

East Hampton’s tally for the first half was $16.48 million, compared to $14.77 million last year. Southold was the only other town that saw an increase—a 2.5-percent rise, from $2.76 million to $2.83 million.

Southampton Town’s revenues dropped 13.2 percent, from $28.35 million to $24.62 million; Shelter Island’s dropped 13.4 percent, from $970,000 to $840,000; and Riverhead’s dropped 2.1 percent, from $1.42 million to $1.39 million.

Since its inception on 1999, the CPF has generated $1.14 billion.

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