CPF numbers down in Riverhead for 2011, up overall on East End
Four out of five East End towns, including Riverhead, saw a decrease in Peconic Bay Community Preservation Fund revenues for 2011, according to information released this week by New York State Assemblyman Fred Thiele’s office.
The revenue, generated through a 2 percent real estate transaction tax, is used to fund preservation of open space, historic landmarks, recreational facilities and farmland.
Riverhead’s CPF revenue decreased 15.7 percent, collecting $1.93 million in 2011, according to the data. Southold brought in $3.62 million in 2010.
Shelter Island’s CPF revenue decreased the most, down 39.7 percent to $820,000 in 2011 from $1.15 million in 2010. He said Southold’s decreased 7.5 percent from its 2010 totals, taking in $3.35 million last year
Despite the decreases, overall revenues collected by the CPF increased by .01 percent with $58.85 million generated in 2011.
That’s because Southampton saw an increase of 15.1 percent or $38.88 million in 2011, up from $33.79 million in 2010.
Mr. Thiele said the Peconic Bay Regional Community Preservation Fund has generated $722 million for East End preservation since its inception in 1999.
