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Real Estate Center

Mar 1, 2010 6:30 PMPublication: The East Hampton Press & The Southampton Press

CPF revenues on an uptick

Mar 1, 2010 6:30 PM

Assemblyman Fred W. Thiele Jr. reported last week that the Peconic Bay Community Preservation Fund (CPF) produced $5.22 million in revenue for the Peconic Bay Region for January 2010.

That means good news for the local real estate market and economy as the $5 million-plus figure is 80 percent higher than that of January 2009, when $2.9 million was collected, according to Mr. Thiele.

The number of real estate transactions has also increased for January 2010, compared with a year ago. This year, there were 523 transactions, compared with 479 for 2009.
 January 2010 marks the ninth consecutive month of improving CPF revenue.

Since its inception in 1999, the CPF has generated more than $610 million for preservation. Mr. Thiele last week predicted that the “CPF revenues could be in the $55 million to $60 million range for 2010.”

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