The Martha’s Vineyard Land Bank reported revenues of $182,236 for the business week ending on Friday, March 18, 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 Edgartown, where four transactions resulted in $103,526. Three transactions in Oak Bluffs generated $28,060. One transaction earned $20,430 in Chilmark. Two transactions resulted in $18,000 in Tisbury. And two transactions earned $12,220 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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