The Martha’s Vineyard Land Bank reported revenues of $75,470 for the business week ending on Friday, August 16, 2013. 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 two transactions resulted in $32,200. In Vineyard Haven, two eligible transactions yielded $23,490. One transaction in Oak Bluffs generated $11,580, while one in Aquinnah resulted in $8,200. No eligible transactions were recorded in Chilmark or Edgartown.
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 3,018 acres of Vineyard land.