Peconic Fund Tops $100 Million - SuffolkJournal.com

Peconic Fund Tops $100 Million, Preserves 2,500 Acres
by Jane Lee Bock

October 4, 2002

New York State Assemblyman Fred Thiele's office announced today that the Peconic Bay Community Preservation Fund has acquired more than $104 million for the purpose of land preservation in the five East End towns.

Riverhead, East Hampton, Shelter Island, Southampton and Southold benefit from the funds and have thus far managed to preserve an estimated 2,500 acres as a result.

Money has been accumulating since 1999 after a referendum establishing the Funds was approved in each of the five towns in 1998. In only three years, total revenues have reached $104,006,799.

State Senator Kenneth LaValle, Assembly members Fred Thiele, Patricia Acampora and Thomas DiNapoli sponsored the state legislation that permitted the towns to establish Community Preservation Funds for the dedicated purpose of land preservation. land can be preserved by the Funds for open space, farmland, parks and recreation, or historic preservation purposes and are financed by a two percent real estate transfer tax.

Thiele states, "The Peconic Bay Community Preservation Fund has been an overwhelming success. Without this $100 million infusion of cash, valuable open spaces would have been lost forever."

Revenues by town so far have been: East Hampton, $28,446,159; Riverhead, $5,904,382; Shelter Island, $2,131,472; Southampton, $59,003,413; and Southold $8,521,373.

Officials hope to extend the program for 10 more years (2010 - 2020) through a referendum being offered this coming election day, stating that the additional 10 years will permit the towns to accelerate land preservation efforts by utilizing the additional revenue stream created by the extension to buy land now.

The Aquebogue School Craft Fair is an annual fundraiser, which raised over $4,000 for PTO sponsored cultural art events, field trips, etc.

Mrs. Muriel Froehlich is a faithful vendor at Aquebogue's fair.