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Jul 2, 2019 1:00 PMPublication: The Southampton Press

Preserving Maritime Heritage Of East End Could Be Added To CPF Targets

Jul 2, 2019 1:38 PM

The New York State Assembly last month gave its stamp of approval to an amendment to the Community Preservation Fund law that would allow the fund’s revenues to be spent on projects that would help preserve the maritime heritage of East End communities.

The bill would, if passed by the full legislature and signed into law, allow CPF funding to be used for the preservation of waterfront facilities and structures related to the region’s long connections to the fishing industry, shellfish harvesting and boating.

The Assembly approved the measure overwhelmingly, 142-2, but it was not yet taken up by the Senate when the legislature’s 2019 session closed in June.

“This legislation is necessary to further expand upon the provisions of the CPF to help preserve and protect the lands surrounding the waters that are essential in keeping the historic fishing industry thriving and enhance resources that are significant to the East End’s waterfront economy,” Assemblyman Fred W. Thiele Jr., the bills’ sponsor, said in a statement. “I am pleased to see the advancement of this bill and look forward to continuing to work toward its ultimate passage by both Houses during the 2020 Session.”

The CPF draws revenues from a 2 percent tax on nearly all residential real estate sales in the five East End towns. It has taken in more than $1.4 billion since its inception in 1999. Primarily aimed at preserving open space through land purchases, the use of the CPF was expanded in 2017 to allow towns to spend up to 20 percent of their annual CPF revenues for water quality improvement projects.

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This is what happens when you have a tax that makes too much money and they don't know what to do with it. Rather than lower the tax rate or do away with it all together, they make things up as they go. Government out of control and continuing to take money from the taxpayer. Get out of NY while you can or else you may not be able to afford the tank of gas to leave.
By The Real World (368), southampton on Jul 3, 19 2:18 PM
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