The Martha’s Vineyard Land Bank reported revenues of $235,190 for the business week ending on Friday, Feb. 13, 2015. The land bank receives its funds from a two per cent fee charged on many Vineyard real estate transactions.
Most of the land bank revenue last week came from the town of Edgartown, where four transactions generated $137,200. Four transactions in West Tisbury resulted in $62,290. Two transactions yielded $18,500 in Oak Bluffs and two transactions resulted in $17,200 in Tisbury. No eligible transactions were recorded in Chilmark or Aquinnah.
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 3,243 acres of Vineyard land.
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