BARBARAELLEN KOCH PHOTO | The Weeping Willow Park on W. Main Street was purchased by the town under its Community Preservation Fund program.
Last year was a pretty good year for the Peconic Bay Community Preservation Fund.
The fund, which uses money raised through a voter-approved 2 percent real estate transfer tax to buy open space and farmland development rights in the five East End towns, brought in a total for 2013 that was up by 43 percent over the previous year. (more…)
Annual CPF totals of the five East End towns, year-by-year.
One of the last words any taxpayer wants to hear an elected official say is “bankrupt.”
But that’s how Riverhead Town Supervisor Sean Walter describes the town’s Community Preservation Fund. Luckily, the term is not being used literally in this case, though the difference seems to be semantic: The town will be doing nothing besides paying down debt on a loan for another 16 years until it’s paid off.