Featured Story
11/20/17 5:15am
REPORTER FILE PHOTO The Community Preservation Fund collects taxes on real estate sales to spend on open space aquisitions and water protection programs.

REPORTER FILE PHOTO The Community Preservation Fund collects taxes on real estate sales to spend on open space aquisitions and water protection programs.

Three of the five East End towns are reporting increases in Community Preservation Fund (CPF) revenues for the first nine months of 2017, but Shelter Island and East Hampton are showing decreases. (more…)

Featured Story
08/29/17 12:00pm
REPORTER FILE PHOTO The Community Preservation Fund collects taxes on real estate sales to spend on open space aquisitions and water protection programs.

REPORTER FILE PHOTO The Community Preservation Fund collects taxes on real estate sales to spend on open space aquisitions and water protection programs.

Seven months into the year, Shelter Island continues to show an increase in the amount of Community Preservation Fund money that is flowing into town coffers from a 2 percent tax paid by home buyers. (more…)

Featured Story
06/30/17 10:00am
COURTESY PHOTO Assemblyman Fred Thiele Jr. (I-Sag Harbor)

COURTESY PHOTO Assemblyman Fred Thiele Jr. (I-Sag Harbor)

Although four of five East End towns showed an upturn in Community Preservation Fund (CPF) money for the first five months of the year, a 25 percent decline in East Hampton was enough to bring down the total revenues collected so far this year  compared with the first five months of 2016. (more…)

Featured Story
04/26/17 8:00am
REPORTER FILE PHOTO The Community Preservation Fund collects taxes on real estate sales to spend on open space aquisitions and water protection programs.

REPORTER FILE PHOTO The Community Preservation Fund collects taxes on real estate sales to spend on open space aquisitions and water protection programs.

Shelter Island is bucking the trend when it comes to East End municipalities’ declining Community Preservation Funds. They are down throughout the East End by 14.6 percent for the first quarter of 2017 as compared with the same period last year.

But on the Island, which frequently lagged the other four towns last year, CPF revenues are up by 30 percent, rising from $330,000 for the first quarter of 2016 to $430,000 for the same period this year. Funds come from a 2 percent tax buyers pay to buy East End properties and is used to purchase open space and  fund water protection programs. (more…)