Peconic Bay Community Preservation Fund Sees 23.2 Percent Decrease
The Peconic Bay Regional Community Preservation Fund, which was created in 1999, has generated $1.451 billion since its inception. (Photo: Nicole Barylski)
For the first 11 months of 2019 the Peconic Bay Community Preservation Fund (CPF) produced $69.29 million in revenue for the Peconic Bay Region, which is more than $20 million less than the same time period in 2018, as noted in a report released by Assemblyman Fred W. Thiele, Jr
. (I-Sag Harbor). In 2018 during that time frame the CPF produced $90.28 million, a 23.2 percent decrease.
Revenues by Town for 11 months in 2019 compared with 2018.
The Peconic Bay Regional Community Preservation Fund, which was created in 1999, has generated $1.451 billion since its inception. Over the past 12 months it has generated $78 million. Its 2019 revenue projection is approximately $76 million, which would be the lowest yearly sum since the 2008-2012 period during the Great Recession.
Shelter Island is the sole town that has experienced an increase in revenues during 2019.
Nicole is the Editor-in-Chief of Hamptons.com where she focuses on lifestyle, nightlife, and mixology. She grew up in the Hamptons and currently resides in Water Mill. www.hamptons.com