The Martha’s Vineyard Land Bank reported revenues of $30,620 for the business week ending on Friday, Nov. 28, 2014. 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 $21,430. One transaction in West Tisbury generated $8,350. And one transaction earned $840 in Edgartown. No eligible transactions were recorded in Aquinnah, Chilmark or Tisbury.
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 3,132 acres of Vineyard land.
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