MINOT, North Dakota — A building boom in Minot following the 2011 Souris River flood is leveling off.
The city issued $182 million in building permits last year, down from $261 million in 2013. One of the reasons for the drop was that major projects including an airport terminal were permitted in 2013, City Building Inspector Mitch Flanagan told the Minot Daily News (http://bit.ly/1w9AEfC ).
Fewer new homes and apartments also are being built, and there are fewer industrial construction projects, according to officials in the building materials business.
The flood rebuilding and influx of residents due to oil development in the region created a situation in which contractors were rushing to keep up, but the situation began to stabilize at the end of 2013 and that is reflected in the 2014 building permits, said Pat Bailey, manager at Muus Lumber. Supply is catching up with demand, according to Flanagan.
The flood caused by heavy spring snowmelt and rains damaged or destroyed more than 4,000 homes and other structures in the city. The years 2011 and 2012 were peak construction years in Minot, particularly for apartments and townhouses, while other multi-family residences reached a high of $99 million in permit values in 2013. Last year saw just $2.3 million in townhouse activity and $47.5 million in other multi-family residences.
Meanwhile, design work has begun on the initial phases of a flood control plan for the Souris River Valley. Minot has designated part of its city sales tax revenue for the project and will be seeking state and federal money for the bulk of the $823 million plan.
Information from: Minot Daily News, http://www.minotdailynews.com
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