The Martha’s Vineyard Land Bank reported revenues of $291,671 for the business week ending on Friday, Jan. 30, 2015. 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 nine transactions resulted in $192,185. One transaction in Chilmark generated $42,000. Four transactions yielded $33,836 in Oak Bluffs. And three transactions earned $23,650 in Tisbury.
No eligible transactions were recorded in Aquinnah or West Tisbury
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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