The Martha’s Vineyard Land Bank reported revenues of 365,544.20 for the business week ending on Friday, May 24, 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 Oak Bluffs, where three transactions resulted in $162,200. Two transactions earned $104,644.20 in Edgartown. Three transactions generated $70,700 in Tisbury. And one transaction resulted in $28,000 in West Tisbury. No eligible transactions were recorded in Aquinnah or 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 4,050 acres of Vineyard land.