The Martha’s Vineyard Land Bank reported revenues of $560,160 for the business week ending on Friday, Jan. 14, 2022. 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 Chilmark, where two transactions resulted in $215,700. One transaction earned $129,000 in West Tisbury. Four transactions generated $114,560 in Edgartown. Four transactions resulted in $83,000 in Oak Bluffs. And one transaction earned $17,900 in Tisbury.
No eligible transactions were recorded in Aquinnah.
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 3,882 acres of Vineyard land.
