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First Quarter Revenues For Peconic Bay Community Preservation Fund Increase By 92.7 Percent

Michelle DiLungo

According to a report recently released by Assemblyman Fred W. Thiele, Jr., the 2013 first quarter revenues for the Peconic Bay Community Preservation Fund were $20.23 million, which is 92.7 percent higher than the first quarter a year ago when $10.5 million was collected. March 2013 revenues totaled $4.19 million which is also up, compared with $3.77 million in March 2012. Since its formation in 1999, the Peconic Bay Regional Community Preservation Fund has generated $798.88 million.

Thiele stated, "The substantial increase in 2013 revenues has been driven by an extraordinary one month total of $11.13 million for January 2013, which appeared to be driven by year end closings in response to federal tax changes. However, revenues for both February and March of 2013 were also higher than those months a year ago."

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