LANTERN MANAGEMENT GROUP
Lantern Management Group, LLC, a for profit corporation, was established by T. Eric Galloway in 2000 to provide supervisory, management, and fiscal services for buildings developed by the Lantern Organization. The management group is responsible for property operations at residences owned by Lantern Organization related low income tax credit limited partnerships and housing development fund corporations -- entities with little or no experience in the management of buildings occupied by people living with a continuing disability who require on-site supportive services in order to remain stable and housed.
Over the years, Lantern Management has developed an impressive level of expertise managing supportive housing and mixed income facilities, and currently manages approximately 1,000 units of low-income and supportive housing at twelve sites in the Bronx, Manhattan, and Brooklyn boroughs of New York City.
Summary of Activities:
- Recruit, select, hire, supervise, and evaluate all staff, and terminate as necessary.
- Screen and check credit of all incoming residents.
- Negotiate and/or renew residential or commercial leases.
- Negotiate and administer vendor service contracts.
- Negotiate union contracts (if applicable).
- Handle rent arrears and related problems, institute legal actions when necessary.
- Identify and negotiate all fidelity bond and insurance coverage (Other insurance coverage to be secured by Owner).
- Manage the development in accordance with Low Income Housing Tax Credit and HOME requirements and local laws.
- Respond to residents' request for services.
- Provide for utility services.
- Develop and implement an energy conservation program.
- Oversee maintenance and/or replacement of heating plant and all other mechanical systems and equipment.
- Establish/oversee preventive maintenance programs.
- Determine and provide for security needs.
- Conduct periodic apartment inspections to assess physical condition.
- Maintain vermin and pest control.
- Correct building code violations.
- Oversee janitorial and other housekeeping services.
- Ensure completion of 2 and 5 year Local Law 10 & 11 building inspections and filing of reports.
- Ensure the completion of 2 and 5 year Local Law 10 elevator inspections and filing of reports.
- Ensure compliance with Local Law 16/84 and filing of required reports.
- Ensure compliance with Local Law 7 of 2004 Carbon Monoxide Detector Law and filing of required reports.
- Ensure compliance with Local Law 1 of 2004 Lead Paint Law and the filing of required reports.
- Complete accounting including general ledger.
- Report to owners and/or agencies from computer system.
- On site computerized check processing.
- Prepare, obtain approval, and administer annual budget
- Collect rent and other charges and receivables.
- Prepare, analyze and evaluate financial reports as well as submit quarterly reports to Owner’s Limited Partner and if required, to any government agency or project lender.
- Establish bank account for depository of funds.
- Make disbursements to vendors.
- Aid in the preparation of annual financial statement with company's CPA.
- Administer any subsidy programs in effect
- Be responsible for purchasing and inventory control.
The 3 Divisions of the Lantern Organization |
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Lantern Management Group |
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