The Martha’s Vineyard Land Bank reported revenues of $258,980 for the business week ending on Friday, August 15, 2014. The land bank receives its funds from a two per cent fee charged on many Vineyard real estate transactions.
Much of the land bank revenue last week came from the town of Chilmark, where one transaction resulted in $156,000. Two transactions in Tisbury generated $65,800. One transaction yielded $24,000 in Aquinnah, and two transactions generated $13,180 in Oak Bluffs.
No eligible transactions were recorded in Edgartown and West Tisbury.
The land bank uses its revenues to purchase and manage land for purposes of conservation, preservation and passive recreation. To date the agency has participated in the purchase of more than 3,132 acres of Vineyard land.