Annual CPF Revenues Hold at $59 Million

Uptick in revenue in Southampton Town made up for dips everywhere else on the East End.

The annual haul for the Peconic Bay Community Preservation Fund barely budged an inch from 2010 to 2011, according to the office of New York State Assemblyman Fred W. Thiele.

Annual revenues increased just 0.1 percent to reach $58.85 million collected across the East End last year.

The CPF had , as the market rebounded from the housing bust. Every East End town saw a huge bump then, but in 2011, while Southampton Town saw a 15 percent increase in CPF revenue, every other town’s CPF took a dive.

Town 2010 2011 Change East Hampton $17.72m $13.86m -21.8% Riverhead $2.29m $1.93m -15.7% Shelter Island $1.36m $0.82m -39.7% Southampton $33.79m $38.88m +15.1% Southold $3.62m $3.35m -7.5%

CPF revenues are an indicator of the health of the East End real estate market — and how much towns can expect to spend on land preservation in the coming years. The CPF is funded through a 2 percent tax on real estate transactions and the revenues are used for buying up open space, nature preserves, parkland, historic properties and development rights. The CPF was created in 1999 at the state level, specifically for the Peconic Bay Region, to preserve the East End’s beauty and agricultural heritage. Since its inception, the CPF has taken in more than $722 million, according to Thiele’s office.

Kevin. January 20, 2012 at 01:19 PM
It is really a shame that Southampton Town and Southampton Village homeowners are the source for the majority of these confiscated funds but will see the least amount of benefit come back to their Town/Village. Perhaps its time to allow these funds to be used to preserve historic sites for the enjoyment, pride and preservation of the heritage of those that have been charged to the tune of almost $40,000,000 dollars.
Merrick7 January 20, 2012 at 01:33 PM
I am confused as to why you suggest they benefit the least I thought the monies collected can only go toward the municipality it was collected from and used for their benefit in preservation or development rights. Am i wrong or is there another message you were trying to send?
Jack January 20, 2012 at 02:24 PM
This is one tax I don't mind paying. Over the past 10 years I bought 2 homes which I still own in SH Village and I see the preservation of the entire East End a benefit to me. I live in Western Suffolk but I absolutely love the East End and it's beauty. It doesn't feel like the rest of long Island. We are lucky that this team has fought to keep land from developers and. It further clog up the East End with endless developments and traffic.
Bill Edwards January 20, 2012 at 02:46 PM
Kevin Luss is in error. By law, generated by real estate transactions in a township are only spent for open space and development rights in that particular township. Bill Edwards Former Southold Town Board Member Former member, Southold Land Preservation Committer
Hazel Wilkonson the First January 20, 2012 at 03:17 PM
That is my understanding as well, Merrick7. There is clearly an alternate agenda in that post.
Hazel Wilkonson the First January 20, 2012 at 03:18 PM
Thank you, Bill
Kevin. January 20, 2012 at 04:40 PM
How am I in error? Fine, so 40 million was confiscated from our village and town taxpayers. And you are purporting that $40,000,000 will be deployed in Southampton Town? There is scant open land to preserve, that money will sit and do nothing then because it is not being deployed in Southampton Town. If you actually look at the activity of the CPF , the amount of monies confiscated from real estate transactions since the advent of this process and the amount of those same funds being deployed for the so called benefit of Southampton Town and specifically SH Village, you will see an equation that doesn't reflect equality in any way shape or form.
Hazel Wilkonson the First January 20, 2012 at 04:59 PM
Your post was not simply about moving funds to historical preservation. You referred to CPF funds as being "confiscated" which certainly implies that you are trying to make a separate point. As far as "useful dialogue", calling someone a "wast of space" is probably not too helpful.
Kevin. January 20, 2012 at 05:15 PM
You don't think "Thank you, Bill" is a waste of space? If the monies are not being confiscated how would you like to describe their collection? When a homeowner is forced to pay $75,000 in fees without any choice or say in the matter, and cross checking with Merriam-Webster's site, I would find it difficult to suggest it is anything other than confiscation. Confiscation as defined by Webster is seized, deprived of property, appropriated by the government, attach...these were the words used in the definition and latin derivatives. Am open to your suggestion, but yes, you are wasting space by attacking the motives and parsing my words without any sort of alternative ideas or thoughts.
Hazel Wilkonson the First January 20, 2012 at 06:13 PM
Here is my alternative: CPF funds are imperative and not "confiscated." As far as your belief that thanking someone equals wasting space, I am sorry if you find my politeness offensive. To your Miriam Webster reference, my problem is not with the definition of the word, but your use of it. Jack, I could not agree with you more. Land preservation should be a top priority of our local government and our residents.
Kevin. January 20, 2012 at 07:12 PM
Hazel, I wish you all the best and that you have a great weekend. Think Snow! :>)
Hazel Wilkonson the First January 20, 2012 at 07:34 PM
Same to you, Mr. Luss. Thank You
Ralebird January 21, 2012 at 12:25 AM
The choice is quite simple - if a prospectivereal estate purchaser (not nomeowner) does not want to contribute to this fund, he can simply buy a property not subject to this program. No confiscation, no seizure, no deprivation.


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