The Martha’s Vineyard Land Bank reported revenues of $69,654.53 for the business week ending on Friday, Sept. 26, 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 Edgartown, where five transactions resulted in $26,344.53. One transaction in Chilmark generated $15,000. Five transactions yielded $12,360 in Oak Bluffs. One transcaction in West Tisbury netted $12,200, and one transaction earned $3,750 in Aquinnah. No eligible transactions were recorded in 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.
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