Assemblyman Fred W. Thiele Jr. (I-Sag Harbor) reported that revenues for the Peconic Bay Community Preservation Fund (CPF) produced $6.02 million in revenue for the Peconic Bay Region for November 2012. This compares with $5.30 million a year ago. This marks an 11-month total for 2012 of $56.21 million, 5.0% higher than last year for the same period when $53.52 million was collected.
Since its inception in 1999, the Peconic Bay Regional Community Preservation Fund has generated $778.64 million. The CPF expires in 2030. Based on recent activity, CPF revenues are projected to be in the $60 million to $62 million range for 2012. Revenues for the 2011 calendar year totaled $58.85 million.
The CPF has generated $61.54 million over the past 12 months. Thiele stated, "CPF revenues are trending higher than last year. Only Southampton Town has collected less money in 2012 than 2011."
Below are revenues for the first ten months by Town for 2011 compared with 2012:
2011 2012 % increase
East Hampton 12.71m 17.78m +39.9%
Riverhead 1.62m 2.03m +25.3%
Shelter Island 0.74m 1.05m +41.9%
Southampton 35.54m 31.91m -10.2%
Southold 2.90m 3.44m +18.6%