The Martha’s Vineyard Land Bank reported revenues of $453,500 for the business week ending on Friday, Sept. 22, 2023. 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 seven transactions resulted in $237,840. Four transactions earned $100,660 in Oak Bluffs. One transaction generated $64,000 in West Tisbury. And two transactions resulted in $51,000 in Tisbury.
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 3,900 acres of Vineyard land.
