.005% and Subsidized Corporates

First Hartford Corp. has a .005% ownership interest in and is a general partner of Rockland Place Apartments Limited Partnership (the “Partnership”) which was formed under the laws of the Commonwealth of Massachusetts on May 15, 2006, for the purpose of owning and operating a rental housing project financed with loans from Massachusetts Housing Finance Agency (MHFA) and subsidies from U.S. Department of Housing and Urban Development (HUD).  Due to higher rents, rental income from the apartment complex in Rockland, MA increased approximately $247,000 during fiscal year 2010.
      The Partnership entered into an agreement with the Rockland Housing Authority whereby the Housing Authority has the option to purchase the property after the 15-year tax credit compliance period on January 1, 2024, from the Partnership. What would this mean for residents in 2024 ?

     Tenants on Martha Drive and Hannah Way have been told to write rent checks to SpringGate Apartments instead of Rockland Place.  All of the following companies are the SUBSIDIARIES of First Hartford Corp.:
First Hartford Realty Corporation, incorporated in Delaware;  Lead Tech Inc., Connecticut; Parkade Center Inc., Texas;  Plainfield Parkade Inc., Connecticut; Putnam Parkade Inc., Connecticut; EH+N Construction Company, Delaware; Independence Park Asset Management Co LLC, Delaware; Dover Parkade LLC, Delaware; DE 150 Corp, Delaware; Brewery Parkade, Inc., Rhode Island; Cranston Parkade LLC, Rhode Island; Tri-City Plaza, Inc., New Jersey; Bangor Parkade, Inc., Maine; CP Associates LLC, Rhode Island; Trolley Barn Associates LLC, Rhode Island; Main Street NA Parkade LLC, Connecticut;  Cranston/BVT Associates Limited Partnership, Rhode Island; FHRC Management Corp., Delaware; The Shoppes at Rio Grande Valley LP, Texas; First Hartford Rio Grande Valley LP, Texas;  Triangle Center Inc., Delaware merged into First Hartford Realty Corp January 1, 2010.
     All of the following subsidiaries of First Hartford Corp. are incorporated in Massachusetts: 1150 Union Street Corp.,  Connolly + Partners LLC,  Rockland Place Apartments LLC,  Rockland Place Developers LLC,  Rockland Place Apartments LP,  EH+N U Inc., First Hartford Plumbing Inc.,  FALAH Corp.,  Clarendon Hill Somerville Limited Partnership, Clarendon Developer LLC, Clarendon Hill Somerville LLC.
      Quite a list of subsidiaries!  So, why do residents still see the name of Cornerstone Corporation at the Rockland Place Apartments along Hannah Way and Martha Drive in Rockland, MA?   For good reasons, residents and potential residents should have the right to know the name of every person having, or ever having, a vested interest in any subsidized property like Rockland Place dba SpringGate Apartments. Having this type of information could help a consumer protect themselves against those who are above-the-law.

ON THE LOOKOUT

October 18, yesterday around 5:30 p.m., Rockland Police were called to SpringGate Apts., Rockland, MA over an alleged assault to a 7-year-old girl along Martha Drive by an older black male with a teardrop tattoo under his eye and a skull tattoo on his forehead. The girl's backpack was rummaged through and tossed.  Police searched the area and questionned several residents.  They asked if anyone saw a man meeting that particular description or if the man could possibly be staying in one of the vacant apartments.

Boston to ban smoking in public housing by September 2012

Considering the illegal drugs transported and distributed throughout subsidized housing, how do authorities plan to control the smoking of legal cigarettes?  Boston to ban smoking in public housing next September - The Boston Globe

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PROPERTY ALERT UPDATE!
Corporate management at SpringGate Apartments of Rockland, Mass. claim they perform criminal background checks. However, level 3 sex offenders have resided in and visit this subsidized property.  One  adult male, found guilty of distributing child pornography while paying rent at 141 and 191 Martha Drive, has been frequenting this multifamily housing property again.  The installation of promised security cameras in common areas, and especially by the entrance area, could be helpful in providing a safe, decent living environment for all residents, including children.  As Hillary once said,  "It takes a village to raise a child."
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CONFLICTS of INTEREST or KICKBACKS?
Stockholders or shareholders are considered by some to be a subset of stakeholders, which may include anyone who has a direct or indirect interest in the business entity of real estate, etc.
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MISINFORMED by MANAGEMENT AGAIN
The most recent fire inspection notices posted by FHRC Manager for Rockland Place dba SpringGate Apartments misinformed tenants of the specific fire alarm inspection company providing services to the property.  The real name of the fire systems inspection company performing inspections most recently was Mass. Fire Prevention, Inc.