Assemblyman Fred W. Thiele, Jr. (D-Sag Harbor) today reported that revenues for the Peconic Bay Community Preservation Fund (CPF) were $21.01 million for the Peconic Bay Region for the first two months of 2023. This compares with $39.28 million for the same period in 2022. This is a 46.5% decrease over last year. February revenues totaled $12.65 million for February 2023, compared with $14.59 million in February 2022. Over the last 12 months, the CPF Fund has generated $154.36 million.

SINCE ITS INCEPTION IN 1999, THE PECONIC BAY REGIONAL COMMUNITY PRESERVATION FUND HAS GENERATED $2.002 BILLION.

Thiele stated, “The Community Preservation Fund, in passing the $2 billion mark, has exceeded all projections made for the fund when it was first enacted in 1998. The true measure of its success, however, is not the revenue, but the impact the CPF has had in protecting open space, farmland, and historic landmarks that define our community character and sense of place. Since 2015, it has also played a key role on reversing the trend of declining water quality across the Peconic Region. By protecting our land and water, the CPF has secured our traditional economic bases of farming, fishing, tourism, and second homes. The things that make the East End special, like historic villages, farms, bays, and beaches are secure. The East End thrives because the CPF has insured that conservation could keep place with development. Our economy is our environment. Further, with the enactment ofthe Peconic Bay Community Housing Fund (CHF) last November, our region will have the tools to meet the current housing crisis by providing an appropriate variety and choice of affordable housing types for all income levels, by generating more than $600 million for housing initiatives over the life of the program.”

TABLE 1

Below are revenues by Town for the first two months of 2022 compared with 2023:

TABLE 2

Below are revenues for the life of the program: