RHEA as New Owner of Spring Gate Apts.???

Residents ought to know who their landlords are.  They've been told by management that Spring Gate Apartments, formerly named Rockland Place, has a new owner named RHEA.   However, documents continue to list First Hartford Corporation with owner, Neil H. Ellis and Connolly & Partners LLC, William Connolly, as affiliated owners.  FHRC, another affiliate of First Hartford Corp., is listed as management company.

  Principles of Consolidation: The accompanying consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries, and all other entities in which the Company has a controlling financial interest. The latter includes those in which the Company has been determined to be the primary beneficiary of a variable interest entity or otherwise meets certain criteria as a sole general partner or managing member in accordance with the consolidation guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC). As such, included in the consolidated financial statements as of April 30, 2026 and 2025 are the accounts of Rockland Schoolhouse Apartments, LP (“Rockland Schoolhouse”) and TVM Owner, LLC (“The Village at Manville”). Also, included in the financial statements as of April 30, 2026 are the accounts of OT Owner, LLC (“Oak Tree Village I”) and LL Owner, LLC (“Lincoln Lofts”). Rockland Place Apartments Limited Partnership (“Rockland”) and Clarendon Hill Somerville Limited Partnership (“Clarendon”) had been consolidated as variable interest entities as of April 30, 2023. On May 19, 2023, the Company bought out the 99.99% limited partnership interests in both Rockland and Clarendon for $930,140 and $2,200,735, respectively. After these transactions, the Company owned 100% and 99.99%, respectively, of Rockland and Clarendon. There was no income statement impact as a result of these two equity transactions. On October 9, 2024, the Company sold its property in Rockland for $15,505,000 plus the assumption of its remaining debt on the property. This transaction resulted in a gain of $10,612,791.   

You can find additional 2026 information at the following link:  https://www.otcmarkets.com/file/company/financial-report/583190/content

Here is some of the information we found on the name Rhea.

Corporate Governance at State Street

John Rhea serves on the Board of Directors for State Street Corporation, a massive, historic financial institution based in Boston.

Beyond his board role in Boston financial circles, Rhea is an expert in the exact asset class that Boston Financial manages: Low-Income Housing Tax Credits (LIHTC).

*Note: To date it looks like Boston Financial monitors compliance of Spring Gate or Rockland Place Apts. (or whatever they're calling it nowadays.)

Low Income Housing Tax Credit Funds

 Boston Capital

Founded: 1974 by Jack Manning and Herb Collins. 
Focus: Historically a major player in multifamily apartment properties and LIHTC equity investments, having invested in thousands of properties nationwide.
Current Operations: Operates significantly through Boston Capital Finance (BCF), which provides construction-to-permanent tax-exempt bond financing and conventional loans for affordable housing properties. 

Boston Financial

Founded: 1969 (making it one of the country's longest-standing syndicators focused exclusively on affordable housing).
Ownership: Acquired by ORIX USA in 2016 and operates as a wholly owned subsidiary of ORIX Corporation.
Major Milestone: In late 2020, Boston Financial acquired Boston Capital's sizeable LIHTC fund portfolio, which nearly doubled Boston Financial's equity under management to $15 billion at the time.
Boston Financial acquired Boston Capital's large low-income housing tax credit fund portfolio in December 2020. This major deal doubled Boston Financial's equity under management to $15 billion, while Boston Capital shifted its core focus toward debt financing through Boston Capital Finance. 
Key Differences and Status
Boston Financial: Operates as a major national investment manager and subsidiary of ORIX USA that specializes in raising equity and managing portfolios under the Low-Income Housing Tax Credit (LIHTC) program.
Boston Capital: Transitioned away from its traditional LIHTC fund sector after selling that portfolio, now operating primarily as a boutique affordable housing lender via Boston Capital Finance.

The Affordability Crisis in the U.S.

How do low income and middle income Americans survive in 2026?

* https://youtu.be/KzsewZ_43j0

Congress Just Passed a Housing Bill

 Learn more about the huge housing Bill Congress recently passed in 2026 to help address SOME of the homeless problems in America.

* https://youtu.be/_FAdVhl5-q0

Information Required for Section 8 Recertifications in 2026

 * Watch this you tube video to find out many details.  https://youtu.be/83qJTZQtydo

HUD Housing Under The Trump Administration

 * Video of Some Changes in Housing under the Trump Administration - https://youtu.be/CiZaH-bzi5E

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The Following is from the U.S Committee on Financial Services -Democrats, Ranking Member Maxine Waters  

 * * https://democrats-financialservices.house.gov/contact/?utm_campaign=7840-358  

For Immediate Release  July 23, 2025

Ranking Member Maxine Waters Blasts HUD’s Plans to Drop Major Housing Discrimination Cases and Further Dismantle Fair Housing Protections   WASHINGTON, D.C. - Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released the following statement in response to reports that the U.S. Department of Housing and Urban Development (HUD) is preparing to drop seven major investigations and cases against local and state governments across the U.S. concerning alleged discriminatory housing practices. “The Trump Administration’s reported plans to drop seven major housing discrimination cases are a blatant attack on people of color, families with children, women, people with disabilities, and other members of protected classes under the ‘Fair Housing Act.’ The victims in each of these cases will now be denied the justice they deserve. This appalling move is yet another part of the Administration’s war on Fair Housing. Since taking office, the Trump Administration terminated 780 housing agency staff — with plans to fire at least three quarters of staff within the Office of Fair Housing and Equal Opportunity — canceled nearly half of fair housing grants, repealed critical fair housing enforcement through HUD’s Affirmatively Furthering Fair Housing Rule and the Equal Access Rule, and gave Elon Musk access to personally identifiable discrimination data, including sexual assault survivors. This latest decision underscores the urgent need for Congress to restore the ‘Fair Housing Act.’ That includes passing my bill, the ‘Restoring Fair Housing Protections Eliminated by Trump Act of 2025,’ which would restore the Affirmative Furthering Fair Housing Rule that was eliminated by Secretary Turner and ensure Americans have access to safe and affordable housing.” Committee Address and E-mail U.S. House Committee on Financial Services Democrats 2129 Rayburn House Office Building Washington, DC 20515 Phone: (202) 225-4247 Fax: (771) 200-5093 Email: FSCDems@mail.house.gov # # # # # # # # *Please Note: Any opinions are not necessarily the opinions of the website author(s).

 

Rockland Police Visit Spring Gate Apts. in Rockland MA 02370

2025 Six-Month Report

Wouldn't it be less costly for taxpayers if Rockland Police just stayed at one of the units at Rockland Place dba Spring Gate Apartments in the warm weather?  Their constant presence would certainly save a whole lot of money on gas and travel expenses for the many times police visit this (LIHTC) Low-Income Housing Tax Credited apartment complex.

JUNE 2025 

41 times to Martha Drive and 33 times to Hannah Way

74 times TOTAL to Spring Gate Apts. in 1 month

MAY 2025

151 times to Martha Drive and 127 times to Hannah Way

278 times TOTAL to Spring Gate Apts. in 1 month

APRIL 2025

147 times to Martha Drive and 104 times to Hannah Way

251 times TOTAL to Spring Gate Apts. in 1 month

MARCH 2025

137 times to Martha Drive and 126 times to Hannah Way

263 times TOTAL to Spring Gate Apts. in 1 month

FEBRUARY 2025

52 times to Martha Drive and 42 times to Hannah Way

94 times TOTAL to Spring Gate Apts. in 1 month  

Residents/live-ins, and visitors were doing great in February! 

JANUARY 2025

63 times to Martha Drive

9 times to Hannah Way

72 times TOTAL to Spring Gate Apts. in 1 month.

 Congratulations! Seems cold weather helps deter crime.

***************

     As you can see above, some months are better than others.  There continue to be a lot of police calls for harrassments, assaults, disturbances, etc. at this LIHTC housing complex. For some strange reason, Rockland Police logs do not often list building numbers and apartment letters where these disturbances and crimes often occur.  When they are listed, it shows a pattern to the public as to which building and apartment residents are causing the majority of difficulties.

      Have to wonder why Corporate management allows the same nuisance tenants to remain on the property for so many years when mgmt. has access to security cameras, complaints,  and police reports.  Corporate management has a long history of spending years attempting to evict those who report crime; yet, won't evict many nuisance residents.  Peculiar to say the least!

Elderly + Handicapped Homeless in America

Skyrocketing rents and unrealistic social security cost of living (COLA) increases throughout the USA have been causing an increase in homelessness throughout the country.  This isn't a recent problem; it's been going on for years and is getting worse. COLA does not keep pace with the real economy and that's the reason so many sober elderly and handicapped people, with a single social security income, can't afford a place to live in the "richest country".  Rents are higher than incomes.

*  https://www.youtube.com/shorts/L5XgUup7M00?feature=share

*  https://www.youtube.com/shorts/fmaEMwydZys?feature=share

* https://www.youtube.com/shorts/Fz9jEiJbRQ0?feature=share

* https://youtu.be/E_nt4GU15wo

About Housing Authorities and Cuts

 * https://youtu.be/1JfbuHHyARc

Are Big Corporations Above the Law in America?

 What's been going on with Sun Communities, besides changing the wording of original prospectus agreements on residents?

1.https://issuu.com/crainsdetroit/docs/cd032723/s/21487163#:~:text=Sun%20used%20its%20own%20money,Neuman%2C%20referring%20to%20insurance%20companies  negligence

2. https://www.manufacturedhomepronews.com/gurufocus-sounds-alarm-the-sun-communities-sui-dilemma-understanding-the-risks-of-a-possible-value-trap-altman-z-eval-suggests-risks-of-potential-bankruptcy-o/ good and bad investments

3. https://www.manufacturedhomepronews.com/multiple-law-firms-invite-sun-communities-investors-to-join-class-action-suit-gross-false-misleading-statements-or-omission-of-material-info-led-to-artificial-inflation-of-sui-corp-stock/  multiple law firms

4.  https://caselaw.findlaw.com/court/us-11th-circuit/2160794.html Royal Palm Gardens, Florida lawsuit