The Martha’s Vineyard Land Bank reported revenues of $411,165 for the business week ending on Friday, Jan. 19, 2024. 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 two transactions resulted in $179,000. Two transactions earned $156,520 in Tisbury. Three transactions generated $45,575 in Oak Bluffs. One transaction resulted in $30,000 in West Tisbury. And one transaction earned $70 in Edgartown. 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 4,050 acres of Vineyard land.
