The Scoop

Peconic Bay CPF Revenues For November Total $6.02 Million

According to a press release by Assemblyman Fred W. Thiele‘s office the Community Preservation Fund totals for the the past 11 months of 2012 are $56.21m, compared with $53.52m for 2011.

Assemblyman Fred W. Thiele, Jr. (I-Sag Harbor) today reported that revenues for the Peconic Bay CPF produced $6.02 million in revenue for the Peconic Bay region for November 2012. This compares with $5.30 million a year ago. This marks an 11-month total for 2012 of $56.21 million, 5.0% higher than last year for the same period when $53.52 million was collected.

Since its inception in 1999, the Peconic Bay Regional Community Preservation Fund has generated $778.64 million.  The CPF expires in 2030. Based on recent activity, CPF revenues are projected to be in the $60–$62 million range for 2012. Revenues for the 2011 calendar year totaled $58.85 million. The CPF has generated $61.54 million over the past 12 months.  Thiele stated, “CPF revenues are trending higher than last year. Only Southampton Town has collected less money in 2012 than 2011.”

Below are revenues for the first 10 months by Town for 2011 compared with 2012:

                                                     2011                2012                % increase

East Hampton                     12.71m            17.78m            +39.9%

Riverhead                              1.62m              2.03m              +25.3%

Shelter Island                      0.74m              1.05m              +41.9%

Southampton                       35.54m            31.91m            -10.2%

Southold                                 2.90m              3.44m              +18.6%

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