Land Bank Buys Edgartown Woodlands

The Martha’s Vineyard Land Bank announced this week that it has purchased nearly 12 acres in the rural wooded perimeters of Edgartown, completing a long-planned project to protect the westerly entrance to town as largely undeveloped land — both the fields and woodland.

The land bank paid $900,000 for 11.8 acres. The seller was Philip J. Norton Jr. The purchase will boost the total size of the land bank’s Ben Toms Preserve to nearly 30 acres, with some 2,000 feet of frontage on the West Tisbury Road.

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Town, Land Bank Purchase Will Protect Manter Well
Julia Wells
A joint purchase last month by the town of Tisbury and the Martha’s Vineyard Land Bank completes a decades-old aquifer protection plan around the Manter well.

The town and the land bank paid $400,000 for 9.5 acres off Old Holmes Hole Road, with the town putting in $300,000 and the land bank $100,000. The transaction took place on August 24.

One of the listed sellers was Ron Monterosso, acting as a trustee for Redmont Realty Trust, which owned a fractional interest in the property. The sale was handled through a trustee appointed by the Dukes County Probate Court.

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Land Bank Turns to Public for Views
Chris Burrell
The Martha's Vineyard Land Bank wants your ideas on how to spend some $10 million of accumulated revenue. Plus, commissioners at the land bank are game for fielding questions on policies that govern the almost 2,000 acres of public lands it owns.
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Adding Seven Thousand Homes: State Predicts Buildout Rate Here
Mandy Locke

The Vineyard could see as many as 7,032 more homes on its 17,475 remaining acres of developable land, officials from the state Executive Office of Environmental Affairs (EOEA) said at an Island forum held Thursday night.

"That's a relatively short time frame to be faced with some tough choices," said Christian Jacqz, director of Massachusetts Geographic Information System, in a presentation to Island officials at the Howes House in West Tisbury.

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Land Bank Revenues Decline for a Second Consecutive Year
Julia Wells

Revenues fell $1 million at the Martha's Vineyard Land Bank in the fiscal year just ended, reflecting a distinct new cooling in the overheated real estate sales market that has made an indelible mark on both the economy and the culture of the Island in recent years.

The land bank fiscal year ends on June 30 (because the date fell over the weekend this year, the land bank closed the books on Friday, June 28).

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Chappaquiddick's Space Fund, Land Bank Buy Island Trail Link
Julia Wells

Chappaquiddick's Space Fund, Land Bank Buy Island Trail Link

By JULIA WELLS
Gazette Senior Writer

With the national economy stuck in neutral and nonprofit groups scrambling to compete for a shrinking pool of donor dollars, a quiet movement on the tiny island of Chappaquiddick is gaining momentum among landowners to buy open space in their own backyards.

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Land Bank Bids for a Woodland Preserve
Julia Wells

Land Bank Bids for a Woodlands Preserve

Deal Would Protect 190 Acres; Developer to Build 26 Houses

By JULIA WELLS
Gazette Senior Writer

A long, bruising battle over the fate of the southern woodlands in Oak Bluffs took a stunning turn this week when the Martha's Vineyard Land Bank announced that it has signed an agreement to buy 190 acres from developer Corey Kupersmith, including the old Webb's Camping Area.

The purchase price is $18.6 million.

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West Tisbury Assessors Lose Tax Challenge
Alexis Tonti

West Tisbury Assessors Lose Tax Challenge

By ALEXIS TONTI

The Massachusetts Court of Appeals this week overturned a decision by the state Appellate Tax Board and ruled that the Martha's Vineyard Land Bank is exempt from all taxation, upholding the power vested in the conservation agency by its enabling legislation.

The case is an appeal of a decision first made by the West Tisbury board of assessors that ordered the land bank to pay about $700 in taxes on property bought in fiscal year 2002.

The ruling was issued Wednesday.

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Land Bank Concludes Historic Purchase of 190 Acres of Southern Woodlands
Chris Burrell
The Martha's Vineyard Land Bank will seal its largest-ever deal today, handing over $18.6 million to Connecticut developer Corey Kupersmith and officially taking ownership of 190 acres of the southern woodlands in Oak Bluffs.
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Pond Stays Closed for Further Study
Ian Fein

Pond Stays Closed for Further Study

State Environmental Affairs Secretary Rejects Land Bank Management Plan at Lambert's Cove Road Kettle Pond

BOSTON - Citing concerns about potential impacts to water quality and protected species, the Massachusetts Secretary of Environmental Affairs last month denied the Martha's Vineyard Land Bank management plan for its proposed Ice House Pond Preserve.

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