City Grants OPRA Tax Exemption to Five Thirty-Eight

The City of Sault Sainte Marie approved an Obsolete Property Rehabilitation Exemption Certificate for Five Thirty-Eight LLC to rehabilitate 536–540 Ashmun Street at an estimated cost of $4,103,061. The project will receive up to a 12-year tax exemption and is expected to increase market-rate housing and commercial activity downtown.

Document date · July 7, 2025

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Scope & details

The full contract record, as filed.

Contract amount

$4,103,061.00

Contract type

OTHER

Contract term

06/01/2025 – 05/31/2027; 12-year obsolete property rehabilitation tax exemption ending December 30 (not to exceed 12 years)

Renewal date

2037-12-30

Renewal

Exemption approved for up to 12 years ending December 30; renewals or extensions beyond this period would require additional action per Public Act 146 of 2000.

Document type

Resolution

Source document

city-of-sault-sainte-marie-resolution-july-7-2025_e37.pdf

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Downtown Sault Ste. Marie AgendaPacket September 9 2026

APPROVED

City of Sault Ste. Marie, MichiganSep 9, 2026

City of Sault Ste. Marie Proposal Five Thirty-Eight in SSM 2025-04-29

PENDING

Town of Soo, Michigan$5,623,499Apr 29, 2025

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the government contract by Sault Ste Marie Housing Commission?

Five Thirty-eight Llc was awarded this government contract by Sault Ste Marie Housing Commission, as recorded on July 7, 2025. The contract value is $4,103,061.00.

How much is the Five Thirty-eight Llc contract with Sault Ste Marie Housing Commission worth?

The Five Thirty-eight Llc contract with Sault Ste Marie Housing Commission is valued at $4,103,061.00.

What type of contract is this?

This is a government contract, documented as a resolution record.

Where was this contract approved?

This contract appears in city-of-sault-sainte-marie-resolution-july-7-2025_e37.pdf (Resolution), dated July 7, 2025 from Sault Ste Marie Housing Commission. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Five Thirty-eight Llc hold?

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