The Martha’s Vineyard Land Bank reported revenues of $570,336.29 for the business week ending on Friday, August 25, 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 Edgartown, where seven transactions resulted in $276,210.20. Three transactions earned $92,500 in Tisbury. Three transactions generated $86,326.09 in Oak Bluffs. Two transactions resulted in $81,900 in West Tisbury. And one transaction earned $33,400 in Aquinnah. No eligible transactions were recorded in 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.