The Martha’s Vineyard Land Bank reported revenues of $623,710 for the business week ending on Friday, Sept. 17, 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 Chilmark, where three transactions resulted in $170,000. Three transactions earned $155,430 in Oak Bluffs. Four transactions generated $128,400 in Edgartown. Four transactions resulted in $124,580 in West Tisbury. And two transactions earned $45,300 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.
