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Local real-estate commentator urges 50/50 split between land preservation and housing funds
Summary
On LTV's 'Keeping It Real' segment, Michael Daley recounted the Community Preservation Fund's $2.26 billion legacy and proposed reallocating the 2.5% transfer-tax pool so 1.25% funds land preservation and 1.25% funds community housing, arguing housing is 'infrastructure.'
Real-estate commentator Michael Daley used LTV's 'Keeping It Real' segment to argue that the East End's Community Preservation Fund and Community Housing Fund require rethinking to prioritize housing.
Daley said the Peconic Bay Region Community Preservation Fund has raised more than $2.26 billion since 1999 via a 2% real-estate transfer tax and that the companion Peconic Bay Community Housing Fund has collected more than $88 million from a 0.5% transfer-tax addition since 2023. "That's 2 almost $2,300,000,000," he said, describing the scale of land-preservation funding.
He argued that local working people are "now the most endangered species on the East End" and that community housing should be treated as infrastructure. Daley proposed revisiting the distribution of the 2.5% total transfer tax so towns consider a "50 50 split" — allocating 1.25% to land preservation and 1.25% to housing — to better fund housing needs like workers, teachers, and first responders.
Daley urged viewers to "start local" by attending town and village meetings and supporting housing proposals that align with their values. The broadcast presented his remarks as commentary and did not include responses from town officials or preservation groups.
