350 South Fifth Avenue 06/08/26 - 06/23/26

Development: 350 South Fifth Avenue
Date of Notice: 06/08/2026
Michigan State Housing Development Authority (MSHDA)
735 East Michigan Avenue
Lansing, Michigan 48912
(517) 373-8370

City of Ann Arbor
301 East Huron Street
Ann Arbor, Michigan 48104
(734) 794-6000

NOTICE OF FINDING OF NO SIGNIFICANT IMPACT ON THE ENVIRONMENT
AND NOTICE OF INTENT TO REQUEST FOR RELEASE OF FUNDS

These notices shall satisfy two separate but related procedural requirements for activities to be undertaken by the Michigan State Housing Development Authority and the City of Ann Arbor

Notice of Intent to Request a Release of Funds

On or about 06/24/2026 the Michigan State Housing Development Authority (MSHDA) and the City of Ann Arbor will submit a request to the U.S. Department of Housing and Urban Development (HUD) for the release of HOME and Project Based Voucher funds under Title II of the National Affordable Housing Act of 1990, and Section 8 (o)(13) of the U.S. Housing Act of 1937 (42 U.S.C. 1437f(o)(13)) as amended, to undertake a project known as 350 South Fifth Avenue for the purpose of:

MSHDA and the City of Ann Arbor intend to award Fifth Avenue MI Limited Dividend Housing Association LLC up to $8,000,000 of MSHDA allocated HOME funds and the City of Ann Arbor by and through the Ann Arbor Housing Commission will allocate 110 units of Project Based Voucher (PBV) rental assistance for 350 South Fifth Avenue. 350 South Fifth Avenue will be located at 350 South Fifth Avenue, Ann Arbor, MI 48104. 350 South Fifth Avenue ("the Development") is a proposed new construction, twenty story high rise apartment building. The Development will feature 330 units containing a mix of 221 one bedroom and 109 two bedrooms with 100% of the units (other than the manager's unit) reserved as affordable for individuals and families with an average income between 30% to 80% of the AMI. Residents will have access to state-of-the-art amenities such as a fitness center, community rooms, co-working spaces, mail and package room. Of the available units, 37 will be HOME assisted and 110 PBV assisted.

350 South Fifth Avenue - Ann Arbor/Washtenaw County
#330 units new construction
#110 units City of Ann Arbor Project Based Vouchers
#37 units MSHDA HOME
$8,000,000 MSHDA HOME Loan
$56,000,000 MSHDA Permanent Mortgage
$91,523,579 Equity Contribution from Tax Credit Syndication
$675,907 Transformation Brownfield Plan ("TBP") Construction Period Income
$5,357,520 Investment Tax Credit ("ITC") Equity
$46,000,000 Sponsor Loan (AAHDC)
$19,339,979 Deferred Developer Fee
$226,896,985 Approximate Total Development Cost

Notice of Finding of No Significant Impact (FONSI)

The MSHDA and the City of Ann Arbor have determined that the project will have no significant impact on the human environment. Therefore, an Environmental Impact Statement (EIS) under the National Environmental Policy Act of 1969 (NEPA, 42 USC 4321) is not required. Additional project information is contained in the Environmental Review Record on file at MSHDA, 735 E. Michigan, Lansing, Michigan 48912 or at the City of Ann Arbor, City Clerk's Office, 301 East Huron Street, 2nd Floor, Ann Arbor, Michigan 48104 and may be examined or copied weekdays 8 A.M to 5 P.M; City Clerk's Office 8 a.m.-12 p.m., 1 p.m.-5 p.m.. Please contact Michael Vollick of MSHDA at 313-456-2596 or City of Ann Arbor, Jackie Beaudry, City Clerk at (734) 794-6140 or [email protected] for further information.

Public Comments

Any individual, group, or agency may submit written comments on the ERR to MSHDA's or the City of Ann Arbor's addresses written above. All comments received by 06/23/2026 will be considered by MSHDA and the City of Ann Arbor prior to authorizing submission of a request for release of funds. Comments should specify which Notice they are addressing.

Environmental Certification

The MSHDA and the City of Ann Arbor certify to HUD that Anthony Lentych in his capacity as Chief Housing Investment Officer and Milton Dohoney Jr. in his capacity as City Administrator consent to accept the jurisdiction of the Federal Courts if an action is brought to enforce responsibilities in relation to the environmental review process and that these responsibilities have been satisfied. HUD's approval of the certification satisfies its responsibilities under NEPA and related laws and authorities and allows Fifth Avenue MI Limited Dividend Housing Association LLC to use Program Funds.

Objections to Release of Funds

HUD will accept objections to its release of funds and the MSHDA and City of Ann Arbor certification for a period of fifteen days following the anticipated submission date or its actual receipt of the request (whichever is later) only if they are on one of the following bases: (a) the certification was not executed by the Certifying Officer of MSHDA or the City of Ann Arbor; (b) MSHDA or the City of Ann Arbor had omitted a step or failed to make a decision or finding required by HUD regulations at 24 CFR Part 58; (c) a grant recipient or other participants in the development process have committed funds, incurred costs or undertaken activities not authorized by 24 CFR Part 58 before approval of a release of funds by HUD; or (d) another Federal agency acting pursuant to 40 CFR Part 1504 has submitted a written finding that the project is unsatisfactory from the standpoint of environmental quality. Objections must be prepared and submitted in accordance with the required procedures (24 CFR Part 58, Sec. 58.76) and shall be addressed to the U.S. Department of Housing and Urban Development Detroit Field Office at 477 Michigan Ave, Suite 1600, Detroit, MI 48226 via [email protected] or [email protected]. Potential objectors should contact HUD's Kieth Hernandez or Michelle King via email at [email protected] or [email protected] to verify the actual last day of the objection period.

Anthony Lentych, Chief Housing Investment Officer, Certifying Officer
Michigan State Housing Development Authority (MSHDA)

Milton Dohoney Jr., City Administrator, Certifying Officer
City of Ann Arbor