There goes the neighborhood

June

The state Assembly has passed a bill designed to let Westchester and Putnam communities voluntarily establish community preservation funds to protect the region’s natural resources from overdevelopment, according to Assemblyman Adam Bradley, a White Plains Democrat.

The idea is to let communities charge a transfer tax on real estate sales of up to 2 percent and decide which types of land should be purchased to protect open space.

The legislation, which still must be approved the state Senate, is modeled after the Peconic Bay Community Preservation Fund on Long Island. That fund started in the 1990s and according to Bradley has helped preserve hundreds of millions of dollars of land. It is made up of five towns and protects the east end of Long IslandÃ¢â‚¬â„¢s open spaces.

This entry was posted on Thursday, June 21st, 2007 at 1:49 pm by Greg Clary.
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