The Martha’s Vineyard Land Bank reported revenues of $1,650,750 for the business week ending on Friday, Oct. 2, 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 17 transactions resulted in $1,158,240. Eleven transactions earned $316,070 in West Tisbury. Two transactions generated $141,000 in Tisbury. Two transactions resulted in $24,000 in Oak Bluffs. And one transaction earned $11,440 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.