The Martha’s Vineyard Land Bank reported revenues of $317,030 for the business week ending on Friday, Oct. 21, 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 Oak Bluffs, where three transactions resulted in $110,000. Three transactions earned $86,160 in Tisbury. Two transactions generated $61,700 in West Tisbury. And four transactions resulted in $59,170 in Edgartown. 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.
