Preservation fund buys 20 Riverside acres
Southampton Town has purchased for preservation a 20-acre property for $175,000 in the Riverside area, land that is within the Peconic River Target Acquisition Area.
The land was purchased under the town’s Community Preservation Fund, which purchases land to be preserved, most notably in ecologically sensitive areas.
The town recently passed a resolution to bond $30 million against future revenue of the CPF to accelerate the purchase of land while it is less expensive and available.
The parcel in Riverside also adjoins the Black Creek Pond system along Flanders Road and County Road 105, according to a town news release.
“It’s an essential piece in terms of water quality protection,” Councilwoman Bridget Fleming said, adding that the vegetation provides a barrier to stormwater runoff from nearby roads. “The vegetation filters the water before it hits the river,” she said.
The Community Preservation Fund — which generates money from a 2 percent tax on real estate sales, with the first $250,000 of a sale exempt — was started in 1999 after voters approved a referendum, and will continue until 2030. Each town generates and spends the money within its own boundaries.
The fund took in $58.85 million in 2011, about 0.1 percent more than the 2010 total. Southampton saw the biggest haul — $38.8 million, a 15 percent increase from 2010. The other four East End towns all saw declines.