Community Preservation Fund Picks Up Cash in January

The balance in the Peconic Bay Community Preservation Fund generated 23 percent more money than it did last January, according to state Assemblyman Fred Thiele, I-Sag Harbor.

This January, the fund garnered $6.44 million while in January 2010, the fund generated only $5.22 million, a press release from Thiele's office stated.

That makes "January 2011 the highest monthly CPF total since May 2008," Thiele was quoted as saying in the release. He said the numbers are telling in that they indicate that the economy is getting back on track.

"Things have been looking pretty good," particularity in Southampton, Thiele said.

In Southampton, he pointed out, CPF revenues increased 102.8 percent from last year.

Riverhead and Southold also saw increases, 158.3 percent and 40.7 percent respectively. However, East Hampton and Shelter Island's revenues were lower than last year.

East Hampton's revenues were down 54.1 percent.

Despite the decreases in East Hampton and Shelter Island, Thiele said overall numbers are up. In a released last month, numbers showed that CPF revenues increased 45.9 percent in 2010 over 2009.

In 2009 the fund, which collects revenue through a real estate transfer tax, generated $40.3 million and since its inception in 1999, Thiele reports that $663.61 million has been collected.

CPF money is used by East End towns to purchase open space, farmland and wetlands. Among the parcels purchased in Southampton Town are large tracks of land such as the 99.5-acre Kijowsk Farm in East Quogue for $5.7 million and 102 acres at West Neck Hills in Tuckahoe for $5.8 million.

Hundreds of smaller properties across the East End have also been purchased during the 12 years that the CPF has been in existence.

In total, Southampton alone has preserved more than 3,000 acres of land through the CPF.  It has generated more than $300 million.