The Martha’s Vineyard Land Bank reported revenues of $394,521 for the business week ending on Friday, August 28, 2020. 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 eight transactions resulted in $301,468. Four transactions earned $44,533 in Oak Bluffs. Two transactions generated $30,800 in Tisbury. One transaction resulted in $14,720 in West Tisbury. And one transaction earned $3,000 in Chilmark. 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.