The Martha’s Vineyard Land Bank reported revenues of $106,120 for the business week ending on Friday, June 20, 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 Tisbury, where three transactions resulted in $56,220. In Oak Bluffs, six eligible transactions yielded $31,680. And one transaction netted $18,220 in Chilmark. No eligible transactions were recorded in Aquinnah, Edgartown or 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.