Reporter Editorial: Welcome news as 2-percent fund spikes

Good news keeps on coming for the Island’s Community Preservation Fund. A recent accounting put Shelter Island in the lead of all East End towns in increases by percentage for the third quarter of 2013 over the same period as last year.

As in a whopping 94 percent rise totaling $1.61 million.

The so-called “2-percent” or CPF fund is financed by a 2-percent tax buyers pay on real estate deals, with the first $250,000 of the sale price exempted for Island purchases. That money then goes into a town’s CPF fund and is solely dedicated to open space acquisitions.

The legislation to create community preservation funds in the five East End towns has been an example of how government can take a leadership role in directly improving the lives of all its citizens. Since the idea became law 14 years ago, Riverhead, Southold, East Hampton, Southampton and Shelter Island have received more than $854 million to buy and preserve open space.

The news of the 94 percent third quarter spike was indeed welcome news, but what’s even better for land preservation here is that the dramatic increase in the fund is a trend, with the first six months of 2013 seeing an astronomical 205 percent rise over the same time frame of 2012.

Although this means more money dedicated to preserving open space to be enjoyed by all, there are critics who point out that this boom in the CPF coffers means a real estate boom and Shelter Island, once the “Un-Hampton,” is in danger of becoming the “New Hampton.”

We respect this point of view but  believe these fears are unjustified. More open space means just that — more public property that is owned and can be used and appreciated by all of us.

But with fresh money come fresh questions: What will the funds be used for and what is the role of the town’s CPF Committee that is charged with targeting properties to preserve. Town Supervisor Jim Dougherty, who is the Town Board’s liaison to the committee, has pushed aggressively for certain properties, including the 25-acre St. Gabriel’s Retreat Center.

But CPF Chairman Peter Vielbig pushed back, noting numerous problems, including a lack of funds, managing debt and  the committee’s restriction on preserving property that has structures built on it.

At a recent Town Board work session, Mr. Dougherty expressed disappointment with the committee, saying that “it’s becoming a stewardship committee,” with too much emphasis placed on “trails, benches and wastebaskets, that kind of stuff. It’s become almost the entire mission of the committee.”

Mr. Dougherty added that,  “you’ve got to be out there and aggressive” to purchase open space.

Councilman Peter Reich noted that stewardship was important, and it might be a sign of an embarrassment of riches that the committee must focus on maintaining properties since “there’s so much inventory.”

We look forward to the debate, with all parties weighing in on how best to manage the windfall.