The Martha’s Vineyard Land Bank reported revenues of $1,189,371.40 for the business week ending on Friday, April 30, 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 seven transactions resulted in $408,950 and West Tisbury where six transactions resulted in $401,000. Seven transactions earned $129,904 in Oak Bluffs and three transactions earned 124,960 in Chilmark. Four transactions generated $64,557.40 in Tisbury. Two transactions resulted in $60,000 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.