The Martha’s Vineyard Land Bank reported revenues of $724,220 for the business week ending on Friday, Jan. 29, 2021. The land bank receives its funds from a two per cent fee charged on many Vineyard real estate transactions.
Much of the land bank revenue last week came from the town of Edgartown, where six transactions resulted in $414,050. Six transactions earned $150,490 in Tisbury. Three transactions generated $100,300 in West Tisbury. And three transactions earned $59,380 in Oak Bluffs.
No eligible transactions were recorded in Aquinnah or Chilmark
The land bank uses its revenues to purchase and manage land for purposes of conservation, preservation and passive recreation. To date the agency has participated in the purchase of more than 3,243 acres of Vineyard land.