Annual CPF Revenues Hold at $59 Million

Uptick in revenue in Southampton Town made up for dips everywhere else on the East End.

The annual haul for the Peconic Bay Community Preservation Fund barely budged an inch from 2010 to 2011, according to the office of New York State Assemblyman Fred W. Thiele.

Annual revenues increased just 0.1 percent to reach $58.85 million collected across the East End last year.

The CPF had , as the market rebounded from the housing bust. Every East End town saw a huge bump then, but in 2011, while Southampton Town saw a 15 percent increase in CPF revenue, every other town’s CPF took a dive.

Town 2010 2011 Change East Hampton $17.72m $13.86m -21.8% Riverhead $2.29m $1.93m -15.7% Shelter Island $1.36m $0.82m -39.7% Southampton $33.79m $38.88m +15.1% Southold $3.62m $3.35m -7.5%

CPF revenues are an indicator of the health of the East End real estate market — and how much towns can expect to spend on land preservation in the coming years. The CPF is funded through a 2 percent tax on real estate transactions and the revenues are used for buying up open space, nature preserves, parkland, historic properties and development rights. The CPF was created in 1999 at the state level, specifically for the Peconic Bay Region, to preserve the East End’s beauty and agricultural heritage. Since its inception, the CPF has taken in more than $722 million, according to Thiele’s office.

Kevin. January 20, 2012 at 05:15 PM
You don't think "Thank you, Bill" is a waste of space? If the monies are not being confiscated how would you like to describe their collection? When a homeowner is forced to pay $75,000 in fees without any choice or say in the matter, and cross checking with Merriam-Webster's site, I would find it difficult to suggest it is anything other than confiscation. Confiscation as defined by Webster is seized, deprived of property, appropriated by the government, attach...these were the words used in the definition and latin derivatives. Am open to your suggestion, but yes, you are wasting space by attacking the motives and parsing my words without any sort of alternative ideas or thoughts.
Hazel Wilkonson the First January 20, 2012 at 06:13 PM
Here is my alternative: CPF funds are imperative and not "confiscated." As far as your belief that thanking someone equals wasting space, I am sorry if you find my politeness offensive. To your Miriam Webster reference, my problem is not with the definition of the word, but your use of it. Jack, I could not agree with you more. Land preservation should be a top priority of our local government and our residents.
Kevin. January 20, 2012 at 07:12 PM
Hazel, I wish you all the best and that you have a great weekend. Think Snow! :>)
Hazel Wilkonson the First January 20, 2012 at 07:34 PM
Same to you, Mr. Luss. Thank You
Ralebird January 21, 2012 at 12:25 AM
The choice is quite simple - if a prospectivereal estate purchaser (not nomeowner) does not want to contribute to this fund, he can simply buy a property not subject to this program. No confiscation, no seizure, no deprivation.


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