CPF Revenues Were Down In June


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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