Peconic Bay Community Preservation Fund Revenues for First Quarter Increase 92.7% Compared With 2012
First quarter revenues are $20.23 million compared with $10.5 million in 2012
April 26, 2013

Assemblyman Fred W. Thiele, Jr. (I-Sag Harbor) today reported that 2013 first quarter revenues for the Peconic Bay Community Preservation Fund (CPF) were $20.23 million, 92.7% higher than the first quarter a year ago when $10.5 million was collected. March 2013 revenues totaled $4.19 million, compared with $3.77 million in March 2012.

The number of first quarter transactions was 2,164 compared with 1,459 a year ago. Since its inception on 1999, the Peconic Bay Regional Community Preservation Fund has generated $798.88 million.

Thiele stated, "The substantial increase in 2013 revenues has been driven by an extraordinary one month total of $11.13 million for January 2013, which appeared to be driven by year end closings in response to federal tax changes. However, revenues for both February and March of 2013 were also higher than those months a year ago."

Below are revenues by Town for the first quarter of 2013 compared with 2012.

2012($) 2013($) % increase
East Hampton 2.80m 5.77m +106.1%
Riverhead 0.40m 0.51m +27.5%
Shelter Island 0.08m 0.67m +737.5%
Southampton 6.57m 12.35m +88.0%
Southold 0.64m 0.94m +46.9%