October’s CPF Revenues Highest They Have Been Since June

176 Deforest rd, Montauk
The iconic Tick Hall property, owned by the talk show host Dick Cavett for half a century, sold in October for $23.6 million.
Courtesy of Compass

Peconic Bay Community Preservation Fund figures for October 2021 show the news remains good about the amount of revenue flowing into the coffers to support protecting open space and water quality. In fact, October’s revenue was the highest it has been since June of 2021.

Assemblyman Fred W. Thiele, Jr. reported earlier this month that revenues for the CPF for the first 10 months of 2021 totaled $177.37 million. During the same period last year, the fund took in $102.61 million. That’s 72.9% more than the same 10-month period in 2020.

“Revenues for the CPF in October 2021 are higher than a year ago,” Thiele said in a press release. “This marks the 15th straight month that revenues have exceeded $10 million. Revenue for October is the highest since June of this year.”

October’s revenues came to a grand total of $18.49 million. One year earlier, $17.93 million was collected during October 2020.

Thiele pointed out that October’s figure was the highest since June, when revenues totaled $19.8 million. The monthly revenues had dipped slightly, though they had remained higher than 2020’s monthly revenues. Large sales, such as that of the iconic Seven Sisters property owned by talk show host Dick Cavett, known as Tick Hall, which sold in October for $23.6 million, help contribute to the increase in CPF revenues.

Over the last 12 months, the fund has generated a total of $214.18 million. In the first 10 months of the year, each of the five East End towns have collected substantially more than 2020.

The Town of Shelter Island continues to lead the way with a 93% increase having taken in $3.86 million in the first 10 months of the year as compared to a mere $2 million during the same time period in 2020.

East Hampton Town is up 88.5% so far this year. A total of $56.84 million has been collected so far in 2021 versus $30.15 million in the first 10 months of 2020.

The Town of Southampton, which by far, collects the most of the Eats End municipalities, has taken in a total of $100.33 million thus far in 2021, a 67% increase over last year. From January through October of 2020, the town collected $59.73 million.

Over on the North Fork, Southold Town has seen an increase of 53.4% year over year, going from $7.12 million in the first 10 months of 2020 to $10.92 million so far this year. Riverhead Town is up 50%, having collected $5.43 million in the same time period as compared to $3.62 million in 2020.

Since the CPF’s inception in 1999, it has generated $1.777 billion.

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