CPF numbers down in Southold for 2011, up overall on East End

01/29/2012 1:00 PM |

FILE PHOTO | CPF dollars may have been down in Southold for 2011, but they were up overall on the East End thanks to a $5 million increase in East Hampton.

Four out of five East End towns, including Southold, 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.

Southold’s CPF revenue decreased 7.5 percent from its 2010 totals, taking in $3.35 million last year, 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 Riverhead decreased 15.7 percent, collecting $1.93 million in 2011.

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.

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