The Martha’s Vineyard Land Bank reported revenues of $235,118 for the business week ending on Friday, March 11, 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 Tisbury, where four transactions resulted in $174,800. Two transactions earned $59,498 in Oak Bluffs. And two transactions generated $820 in Edgartown. No eligible transactions were recorded in Aquinnah, Chilmark or West Tisbury.
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.
