CPF Down 29 Percent in First Two Months of 2019
The Peconic Bay Regional Community Preservation Fund has collected almost 29 percent less in revenues across the five East End towns during the first two months of 2019 when compared to the same period in 2018, according to New York State Assemblyman Fred W. Thiele Jr.
According to Mr. Thiele, the five East End towns collected $11.98 million in revenues when compared to $16.86 million in 2018, a 28.9 percent decrease. The Peconic Bay Regional Community Preservation Fund receives monies from a two-percent real estate transfer tax used individually by the East End towns for open space and historic preservation, for recreation and for water quality projects. Since its inception in 1999, the CPF has pulled in $1.394 billion. The February 2019 revenue, said Mr. Thiele, is the lowest February total since 2013.
“It is impossible to determine trends based on two months of CPF revenues,” said Mr. Thiele. “At least a quarter of a year of data is required to determine whether the revenue drop for the beginning of 2019 is an aberration or a significant change in the real estate market. Local government officials should closely monitor CPF revenues in the coming months and be cautious in making any long-term projections.”
New York State Attorney General Files Suit Against Opioid Manufacturers
Late last week, New York Attorney General Letitia James filed what her office called the nation’s most extensive lawsuit against the manufacturers, the Sackler family, and distributors of opioids for their role in the opioid epidemic that claimed 483 lives in Suffolk County in 2018.
The suit alleges that through years of deceptive marketing, and in allegedly not preventing the unlawful diversion of controlled substances, six national prescription opioid manufacturers, the Sackler family and four national prescription drug distributors are responsible for creating the opioid epidemic that has caused widespread addiction and overdoses across the country, including on the East End.
The amended complaint expands an earlier lawsuit filed by the Office of the Attorney General against Purdue Pharma. According to a press release issued by Ms. James’s office on Friday, the suit “breaks new ground by setting forth an extensive set of facts alleging that prescription drug distributors failed to exercise their duties to detect and report diversion of opioids through poorly designed, poorly resourced and poorly executed suspicious order monitoring programs.”
“The opioid epidemic has ravaged families and communities across New York,” said Ms. James. “We found that pharmaceutical manufacturers and distributors engaged in years of deceptive marketing about the risks of opioids and failed to exercise their basic duty to report suspicious behavior, leading to the crisis we are living with today. As the Sackler family and the other defendants grew richer, New Yorkers’ health grew poorer and our state was left to foot the bill. The manufacturers and distributors of opioids are to blame for this crisis, and it is past time they take responsibility.”
The lawsuit seeks to hold manufacturers and distributors accountable and obtain financial compensation for the State of New York, specifically to be used to abate the opioid epidemic through funding for prevention programs and addiction and medical treatment for affected New Yorkers. The amended complaint also seeks to recover the billions of dollars in profits from OxyContin sales that it alleges were fraudulently conveyed from Purdue Pharma to the Sackler family members who control the company.
To read the full complaint, visit ag.ny.gov/sites/default/files/oag_opioid_lawsuit.pdf.