Community Preservation Fund debt pay-down
Summary
A state-mandated regional Community Preservation Fund structure requires hiring shared attorney Mary Wilson at $400/hour, with Riverhead's share around 5.3%. Residents questioned her Florida residency and travel compensation, and the board tabled the agreement to get answers.
At a glance
- Total mentions
- 2
- Last 30 days
- 0
Last discussed Jul 2, 2026.
Impact analysis
Riverhead's share is about $5.30 of every $100 of the counsel's billings at $400 an hour.
All five East End towns sharing CPF legal services.
Riverhead farmland preservation funds could be drawn on for legal work that may not benefit the town.
Mentions & discussions (2)
Town Board Work Session - Jul 2, 2026
Resolutions 10 and 11 would pay off the remaining $7 million of Community Preservation Fund debt, freeing up future money for open space and farmland preservation purchases.
Town Board Work Session - Jun 25, 2026
The town has $30 million sitting in its land-preservation fund and could pay off $7.2 million of old bond debt early, saving $660,000 in interest — while still leaving about $19 million to buy and preserve land. The move also removes the debt payment from future budgets.
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