Shelter Island preservation revenue plummets – East End records highest monthly total

Only Shelter Island of the five East End towns saw a decline in its Community Preservation Fund (CPF) revenue for the first month of 2022.

Until January 22, Shelter Island had the highest percentage increase of any town in the East End over the past year. But the island saw a 26.7% drop, bringing in $55,000 in January this year for land preservation and drinking water projects, down from $75,000 in January 2021.

The money for the CPF comes from a 2% levy buyers pay when buying properties in the East End and is in turn used to buy open space for preservation and fund protection schemes some water.

Overall, January CPF revenue for the five East End cities was the highest monthly total in the fund’s history, according to Assemblyman Fred Thiele Jr. (I-Sag Harbor ). He said the overall increase in January 2021, compared to January 2022, was a gain of 17.2%. The total for January this year was $24.69 million, down from $21.07 million in January 2021.

Over the past 12 months, CPF revenues for the five East End cities totaled $214.26 million. Since its inception in 1999, the Peconic Bay Regional Community Preservation Fund has generated $1.835 billion in land preservation funds, Thiele said.

He noted that this is the 17th consecutive month that revenue has topped $10 million.

Southold recorded the largest percentage gain for January 2022, up 72.8% more than the city in the previous January. This means that $1.59 million entered its coffers, up from $920,000 in January 2021.

East Hampton was next, bringing in $7.32 million in January, up from $5.76 million in January 2021, an increase of 27.1%.

Southampton saw an 11.8 per cent increase bringing in $14.55 million in January, up from $13.02 million the previous January.

Riverhead was up 9.7% Jan-Jan, grossing $68,000 in January 2022, up from $620,000 the previous January.

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