The Martha’s Vineyard Land Bank reported revenues of $139,616 for the business week ending on Friday, May 6, 2016. 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 five transactions resulted in $48,500. Three transactions in Edgartown generated $32,656. One transaction earned $21,700 in Chilmark. Six transactions earned $21,050 in Oak Bluffs. And one transaction resulted in $15,710 in West Tisbury.
No eligible transactions were recorded in 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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