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News/AnnouncementsApril 9, 2010

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prometheus_222   Tuesday, 09/14/10 11:53:21 AM
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April 9, 2010

We are pleased to announce the closing of Clarendon Hill Somerville LP's acquisition and commencement of rehabilitation of Clarendon Hill Towers 501 Unit Affordable Housing Project in Somerville MA.

First Hartford Corporation through its affordable housing arm, Connolly & Partners, LLC is proud that the project worth a Total Capitalization of $68,775,000 was provided financing by:

Mass Housing
Tax Exempt Bonds - $27,750,000

Department of Housing & Community Development
Commonwealth of Massachusetts
Capital Improvement Loan - $2,000,000

City of Somerville
HOME Loan - $245,000

Boston Capital Corporation
Low Income Housing Tax Credit Equity - $12,350,000

Source: www.firsthartford.com

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