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<title>FIRST HARTFORD CORPORATION Form 8-K</title>



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<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'><b>&nbsp;</b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'><b>&nbsp;</b></p>


<p class="MsoPlainText" align="center" style="text-align:center"><b>UNITED
STATES<br>
SECURITIES AND EXCHANGE COMMISSION<br>
Washington, D.C. 20549</b></p>
<p class="MsoPlainText" align="center" style="text-align:center"><b>FORM 8-K </b>
</p>
<p class="MsoPlainText" align="center" style="text-align:center"><b>CURRENT
REPORT<br>
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</b></p>
<p class="MsoPlainText" align="center">Date of Report (Date of earliest event
reported)&nbsp; August 28, 2007</p>
<p class="MsoPlainText" align="center" style="text-align:center"><b>First
Hartford Corporation<br>
</b>(Exact name of registrant as specified in its charter)</p>
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			Maine</td>
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			0-8862</td>
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			01-00185800</td>
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			(State or other jurisdiction of <br>
			incorporation)</td>
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			<p class="MsoPlainText" align="center" style="text-align:center">
			(Commission<br>
			&nbsp;File Number)</td>
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			(IRS Employer Identification No.)</td>
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<p class="MsoPlainText" align="center" style="text-align:center">&nbsp;</p>
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			<td width="355" valign="bottom" style="border-bottom:1px solid #000000; width:266.4pt;padding-left:5.4pt; padding-right:5.4pt; padding-top:0pt; padding-bottom:0pt">
			<p class="MsoPlainText" align="center" style="text-align:center">149
			Colonial Road, <br>
			Manchester, Connecticut</td>
			<td width="299" valign="bottom" style="border-bottom:1px solid #000000; width:224.5pt;padding-left:5.4pt; padding-right:5.4pt; padding-top:0pt; padding-bottom:0pt">
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			06040</td>
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			(Address of principal executive offices)</td>
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			<p class="MsoPlainText" align="center" style="text-align:center">
			(Zip Code)</td>
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</div>
<p class="MsoPlainText">Registrant's telephone number, including area code&nbsp;
(860) 646-6555</p>
<p class="MsoPlainText" align="center" style="text-align:center">(Former name or
former address, if changed since last report)</p>
<p class="MsoNormal">Check the appropriate box below if the Form&nbsp;8-K filing is
intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions (<i>see</i> General Instruction A.2. below): </p>
<p class="MsoNormal">[&nbsp;&nbsp;&nbsp; ] Written communications pursuant to
Rule&nbsp;425 under the Securities Act (17&nbsp;CFR 230.425) </p>
<p class="MsoNormal">[&nbsp;&nbsp;&nbsp;&nbsp;] Soliciting material pursuant to Rule&nbsp;14a-12 under
the Exchange Act (17 CFR 240.14a-12) </p>
<p class="MsoNormal">[&nbsp;&nbsp;&nbsp;&nbsp;] Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-(b)) </p>
<p class="MsoNormal">[&nbsp;&nbsp;&nbsp;&nbsp;] Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </p>
<p class="MsoNormal">&nbsp;</p>

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<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>Item 2.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Financial Obligation Matter</u></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>On August 23, 2007 the Company
purchased 56 acres in Edinburg, TX for $6,774,960.&nbsp; This property plus an
additional 70 acres purchased March 6,2007 (as reported on Form 8-K dated March
8, 2007) will be part of a multi-use shopping center to be known as The Shoppes
At Rio Grande Valley.&nbsp; Scheduled to be built in phases, 2007 to 2010, the
project could contain up to 1,000,000 square feet of retail and other space. </p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>This project is being funded by a
construction and permanent mortgage loan from Protective Life Insurance
Company.&nbsp; The loan will be in two phases.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>Phase I&nbsp;&nbsp;&nbsp;&nbsp; $44,080,000</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Note A&nbsp;&nbsp;&nbsp;&nbsp; $36,300,000</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Note B&nbsp;&nbsp;&nbsp;&nbsp; $7,780,000&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest Rate:&nbsp; 6.125%
per annum</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Construction Term:
Through 12/31/08</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amortization:&nbsp; </p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Note A:&nbsp; Amortizing
on a 25 year schedule after conversion to permanent loan.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Note B:&nbsp; Interest
only</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Call Date: 3 years after
conversion&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p>

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:left; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Guarantors:&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First
Hartford Corporation and Neil Ellis, individually.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Completion
of construction and guaranteed repayment of construction
loan.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Leasing Requirement:&nbsp; In
order to convert to a permanent loan, must demonstrate debt service
coverage of 1.0.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Building Size:&nbsp; 416,412
SF.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-left:24.0pt;text-align:justify'>Principal
reductions on Note B will be made from the reimbursements contemplated from the
following City of Edinburg programs (maximum amounts are shown):</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>

<table class=MsoTableGrid border=1 cellspacing=0 cellpadding=0
 style='margin-left:23.4pt;border-collapse:collapse;border:none' width="90%">
 <tr>
  <td valign=top style='border:1.0pt solid windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>TIF</p>
  </td>
  <td valign=top style='border-right:1.0pt solid windowtext; border-top:1.0pt solid windowtext; border-bottom:1.0pt solid windowtext; border-left:medium none; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' width="109">
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>$4,000,000</p>
  </td>
  <td valign=top style='border-right:1.0pt solid windowtext; border-top:1.0pt solid windowtext; border-bottom:1.0pt solid windowtext; border-left:medium none; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' width="622">
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>Public Infrastructure Cost
  Reimbursement payable from the proceeds of Tax Incremental Financing bonds
  once the applicable phase of the Project is complete and generates increases
  in real estate taxes producing a 1.35 debt service coverage on the TIF bonds (estimated
  $2,000,000 per year for 2009 and 2010).</p>
  </td>
 </tr>
 <tr>
  <td valign=top style='border-left:1.0pt solid windowtext; border-right:1.0pt solid windowtext; border-bottom:1.0pt solid windowtext; border-top:medium none; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
  </td>
  <td valign=top style='border-top:medium none;border-left:
  medium none;border-bottom:1.0pt solid windowtext;border-right:1.0pt solid windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' width="109">
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
  </td>
  <td valign=top style='border-top:medium none;border-left:
  medium none;border-bottom:1.0pt solid windowtext;border-right:1.0pt solid windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' width="622">
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td valign=top style='border-left:1.0pt solid windowtext; border-right:1.0pt solid windowtext; border-bottom:1.0pt solid windowtext; border-top:medium none; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>380 Grant</p>
  </td>
  <td valign=top style='border-top:medium none;border-left:
  medium none;border-bottom:1.0pt solid windowtext;border-right:1.0pt solid windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' width="109">
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp; 4,000,000</p>
  </td>
  <td valign=top style='border-top:medium none;border-left:
  medium none;border-bottom:1.0pt solid windowtext;border-right:1.0pt solid windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' width="622">
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>A &quot;380 Grant&quot; in the
  amount of&nbsp; the difference between $8,000,000 and the TIF amount.&nbsp; Payable
  semi-annually on 3/31 and 9/30 from &frac12; of the City's share of sales tax
  revenue of 1% of sales generated at the center</p>
  </td>
 </tr>
 <tr>
  <td valign=top style='border-left:1.0pt solid windowtext; border-right:1.0pt solid windowtext; border-bottom:1.0pt solid windowtext; border-top:medium none; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>EEDC Grant</p>
  </td>
  <td valign=top style='border-top:medium none;border-left:
  medium none;border-bottom:1.0pt solid windowtext;border-right:1.0pt solid windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' width="109">
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;&nbsp; <u>&nbsp;4,000,000</u></p>
  </td>
  <td valign=top style='border-top:medium none;border-left:
  medium none;border-bottom:1.0pt solid windowtext;border-right:1.0pt solid windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' width="622">
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>EEDC Initial Incentive
  Commitment - payable semi-annually on 3/31 and 9/30 from EEDC sales tax
  revenue of &frac12;% of sales of sales generated at the center.&nbsp; </p>
  </td>
 </tr>
 <tr>
  <td valign=top style='border-left:1.0pt solid windowtext; border-right:1.0pt solid windowtext; border-bottom:1.0pt solid windowtext; border-top:medium none; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'><b>Total</b></p>
  </td>
  <td valign=top style='border-top:medium none;border-left:
  medium none;border-bottom:1.0pt solid windowtext;border-right:1.0pt solid windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' width="109">
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'><b>$12,000,000</b></p>
  </td>
  <td valign=top style='border-top:medium none;border-left:
  medium none;border-bottom:1.0pt solid windowtext;border-right:1.0pt solid windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' width="622">
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>

<hr size=2 width="100%" noshade color=navy align=center>

</div>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

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style='page-break-before:always'>


<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-left:24.0pt;text-align:justify'>Reimbursements
after payment in full of Note B will be applied to the Phase II debt.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-left:24.0pt;text-align:justify'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>Phase II&nbsp;&nbsp;&nbsp; $9,120,000</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-left:24.0pt;text-align:justify'>Interest
Rate:&nbsp; 6.125%</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-left:24.0pt;text-align:justify'>Construction:&nbsp;
Through 12/31/08</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-left:24.0pt;text-align:justify'>Amortization:
25 years after conversion</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-left:24.0pt;text-align:justify'>Call Date: 3
years after conversion but no later than Phase I</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Guarantors: Same as Phase
I</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-left:24.0pt;text-align:justify'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-left:24.0pt;text-align:justify'>Phase II was
underwritten only to cover cost of land and certain land development costs at this
time.&nbsp; The amount of the loan will be renegotiated when there are adequate
signed leases to provide additional funds to building Phase II.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>Protective Life Insurance Company
will, in addition to the 6.125% interest, receive 50% of the cash flow as interest.&nbsp;
In the event the project is sold or refinanced, they will receive 50% of the
excess cash.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p class=MsoNormal style='text-align:justify;'>August 28, 2007</p>
<p class=MsoNormal style='text-align:justify;'><b>First Hartford Corporation</b></p>
<p class=MsoNormal style='text-align:justify;'>/s/ <u>Stuart I. Greenwald&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> <br>
&nbsp;&nbsp;&nbsp;&nbsp; Stuart I. Greenwald<br>
&nbsp;&nbsp;&nbsp;&nbsp; Treasurer and Secretary</p>
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[{"type": "8-K", "sequence": "1", "filename": "esfirsthartford.htm", "secsgml_size_bytes": 22431}]
{"company-data": {"conformed-name": "FIRST HARTFORD CORP", "cik": "0000036369", "assigned-sic": "6500", "irs-number": "010185800", "state-of-incorporation": "ME", "fiscal-year-end": "0430"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-08862", "film-number": "071083137"}, "business-address": {"street1": "149 COLONIAL RD", "city": "MANCHESTER", "state": "CT", "zip": "06045-1270", "phone": "8606466555"}, "mail-address": {"street1": "149 COLONIAL RD", "city": "MANCHESTER", "state": "CT", "zip": "06045-1270"}, "former-company": {"former-conformed-name": "WYANDOTTE INDUSTRIES CORP", "date-changed": "19880803"}}
FIRST HARTFORD CORPORATION Form 8-K
UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT
REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event
reported)  August 28, 2007
First
Hartford Corporation
(Exact name of registrant as specified in its charter)
Maine
0-8862
01-00185800
(State or other jurisdiction of
incorporation)
(Commission
File Number)
(IRS Employer Identification No.)
149
			Colonial Road,
Manchester, Connecticut
06040
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code 
(860) 646-6555
(Former name or
former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions (
see
General Instruction A.2. below):
[    ] Written communications pursuant to
Rule 425 under the Securities Act (17 CFR 230.425)
[    ] Soliciting material pursuant to Rule 14a-12 under
the Exchange Act (17 CFR 240.14a-12)
[    ] Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-(b))
[    ] Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 2.03
Financial Obligation Matter
On August 23, 2007 the Company
purchased 56 acres in Edinburg, TX for $6,774,960.  This property plus an
additional 70 acres purchased March 6,2007 (as reported on Form 8-K dated March
8, 2007) will be part of a multi-use shopping center to be known as The Shoppes
At Rio Grande Valley.  Scheduled to be built in phases, 2007 to 2010, the
project could contain up to 1,000,000 square feet of retail and other space.
This project is being funded by a
construction and permanent mortgage loan from Protective Life Insurance
Company.  The loan will be in two phases.
Phase I     $44,080,000
Note A     $36,300,000
Note B     $7,780,000
Interest Rate:  6.125%
per annum
Construction Term:
Through 12/31/08
Amortization:
Note A:  Amortizing
on a 25 year schedule after conversion to permanent loan.
Note B:  Interest
only
Call Date: 3 years after
conversion
Guarantors:         First
Hartford Corporation and Neil Ellis, individually.
Completion
of construction and guaranteed repayment of construction
loan.
Leasing Requirement:  In
order to convert to a permanent loan, must demonstrate debt service
coverage of 1.0.
Building Size:  416,412
SF.
Principal
reductions on Note B will be made from the reimbursements contemplated from the
following City of Edinburg programs (maximum amounts are shown):
TIF
$4,000,000
Public Infrastructure Cost
  Reimbursement payable from the proceeds of Tax Incremental Financing bonds
  once the applicable phase of the Project is complete and generates increases
  in real estate taxes producing a 1.35 debt service coverage on the TIF bonds (estimated
  $2,000,000 per year for 2009 and 2010).
380 Grant
4,000,000
A "380 Grant" in the
  amount of  the difference between $8,000,000 and the TIF amount.  Payable
  semi-annually on 3/31 and 9/30 from ½ of the City's share of sales tax
  revenue of 1% of sales generated at the center
EEDC Grant
4,000,000
EEDC Initial Incentive
  Commitment - payable semi-annually on 3/31 and 9/30 from EEDC sales tax
  revenue of ½% of sales of sales generated at the center.
Total
$12,000,000
Reimbursements
after payment in full of Note B will be applied to the Phase II debt.
Phase II    $9,120,000
Interest
Rate:  6.125%
Construction: 
Through 12/31/08
Amortization:
25 years after conversion
Call Date: 3
years after conversion but no later than Phase I
Guarantors: Same as Phase
I
Phase II was
underwritten only to cover cost of land and certain land development costs at this
time.  The amount of the loan will be renegotiated when there are adequate
signed leases to provide additional funds to building Phase II.
Protective Life Insurance Company
will, in addition to the 6.125% interest, receive 50% of the cash flow as interest. 
In the event the project is sold or refinanced, they will receive 50% of the
excess cash.
August 28, 2007
First Hartford Corporation
/s/
Stuart I. Greenwald
Stuart I. Greenwald
Treasurer and Secretary