The Martha’s Vineyard Land Bank reported revenues of $252,170.20 for the business week ending on Friday, July 28, 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 West Tisbury, where one transaction resulted in $73,250. Four transactions earned $69,520 in Tisbury. Three transactions generated $44,500.20 in Edgartown. One transaction resulted in $36,000 in Chilmark. And two transactions earned $28,900 in Oak Bluffs. 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 3,900 acres of Vineyard land.
