The Martha’s Vineyard Land Bank reported revenues of $545,070.20 for the business week ending on Friday, August 4, 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 Oak Bluffs, where four transactions resulted in $155,000. Two transactions earned $150,200 in Chilmark. Two transactions generated $87,900 in Aquinnah. One transaction resulted in $82,000 in Tisbury. Seven transactions earned $61,770.20 in Edgartown. And one transaction generated $8,200 in West 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 3,900 acres of Vineyard land.