New housing construction on the rise

The last month of the city’s fiscal year proved the most productive for construction of new homes.

The city issued 17 permits for the construction of single-familiy homes in June, three more than the previous mointh and the most issued in one month in the fiscal year that ran July 2010 to June 2011.

The 17 permits is the most issued in a single month since April 2010, when the city issued 24 permits.

The construction of homes brings money to the city in the form of permit fees and sales tax on newly built homes. Maricopa bases its budget partially on the number of building permits it expects to issue.

The city initially budgeted for an average of 33 permits a month in the fiscal year that just ended. That number was adjusted to 10 permits a month in December 2010, and the council slashed nearly $1 million from the city’s budget to reflect the change.

The adjustment proved to be a closer estimate than the original projection as the city averaged 9.25 permits a month.