Peconic Bay Community Preservation Fund Revenues are $122.21 Million for First Seven Months of 2022 Compared with $131.29 Million in 2021
Revenues are 6.9% lower than last year; Cumulative CPF revenues total $1.933 billion
Assemblyman Fred W. Thiele, Jr. (D-Sag Harbor) today reported that 2022 revenues for the Peconic Bay Community Preservation Fund (CPF) for the first seven months totaled $122.21 million. A year ago, $131.29 million was collected for the same period. Revenues for 2022 to date are 6.9% less than a year ago. July revenues totaled $14.77 million in 2022 compared to $17.78 million for the same month last year.
Since its inception in 1999, the Peconic Bay Regional Community Preservation Fund has generated $1.933 billion. The CPF has generated $201 million in the last 12 months.
Thiele stated, “Real estate activity is less than a year ago. However, CPF revenues in 2022 remain at historically high levels when compared to revenues before the pandemic. Revenues for the first seven months of 2022 are the second highest for the first seven months in the 24-year history of the program (except 2021).
Below are revenues by Town for the first seven months of 2022 compared with 2021.
| 2022($) | 2021($) | % increase | |
|---|---|---|---|
| East Hampton | 40.61m | 44.68m | -9.1% |
| Riverhead | 5.62m | 3.75m | +49.9 % |
| Shelter Island | 1.67m | 2.74m | -39.1% |
| Southampton | 66.23m | 72.64m | -8.8% |
| Southold | 8.09m | 7.47m | +8.3% |
| Total | 122.21 m | 131.29m | -6.9% |