Star Management Corp. is a Corporation organized in January of 1994 and is duly registered in the Department of State of the Commonwealth of Puerto Rico. Star Management Corp. is dedicated to Real Estate Development and Acquisition as well as the management of low-income rental housing projects with Federal Section-8 rental subsidies (under U.S. Housing and Urban Development “HUD”, Section 515/RA under USDA Rural Development) as well as State subsidized programs (Section 173 under PR Department of Housing).
Star Management Corp. presently holds contracts, as Management Agent of low-income housing projects for a total number of 2,975 units. All of them under Federal and State subsidized programs with 2,801 of those units being under the Section 42 Low Income Housing Tax Credit Program of the Internal Revenue Service code.
Star Management Corp. currently has under development and construction signed Management Contracts for 408 units distributed among 4 projects. All units will be regulated under the Low Income Housing Tax Credit Program. Once the construction is completed we will be managing 3,383 low-income dwelling units distributed in 38 projects.
Star Management Corp. has over 160 qualified professionals and technicians that form the backbone of the corporation. These qualified men and women are considered valuable assets that represent a positive force in the achievement of all our goals. They have been duly trained and are continuously kept up to date with certifications in fields that are governed by the rules and regulations of State and Federal Programs, including the Section 42 Low Income Housing Tax Credit Compliance Program.
Star Management Corp. was founded by Mr. Jesús Reyes-Bascarán. For over 35 years, Mr. Reyes-Bascarán dedicated all his resources to the Housing Industry through public and private service. He held different positions in the Caribbean Area Offices of the U.S. Department of Housing and Urban Development (HUD), as well as in the private sector with Star Management Corp., through the management and/or ownership interest of low-income housing projects with Federal subsidies and Federal financing. He retired in June 2005 and sold his ownership of the corporation.
In July 2005, Mr. Jorge L. Trigo was appointed President and CEO of Star Management Corp. Mr. Trigo has more than 40 years of experience in the Commercial and Housing Industry. He is responsible for the day-to-day operations related to Development, Acquisition, Management Contracts, New Business as well as Oversight of the general administration and finances related to the company and all projects. Mr. Trigo is also responsible for processing private financing, Section 42 Low Income Housing Tax Credit applications with the Puerto Rico Housing Finance Authority (PRHFA) and the transfer of physical assets pertaining to HUD and USDA Rural Development Projects.
In addition to the expertise of Mr. Jorge L. Trigo, Star Management Corp. is fortunate to count on the experience of Mrs. Katherine Reyes-Reed, who serves as Vice-President. Mrs. Reyes oversees all Project Management & Field Operations, assuring compliance with all Federal and State Rules and Regulations.
Included among the executive staff of Star Management Corp. is our Comptroller, Mr. Rafael Ortiz Arroyo, CPA. Mr. Ortiz has extensive experience in Federal Auditing procedures and is directly in charge of the Accounting Department including the supervision of all employees. Mr. Ortiz is responsible for the maintenance of accounting records; cash management and investments; payroll; internal controls and cost reduction policies; budget and projections; preparation of audits; and tax reporting requirements. Mr. Ortiz also monitors compliance of laws, regulations and agreements with State and Federal Regulatory agencies, Investors, Banks and other fields related to the accounting and administration of all housing projects.
Another key member of the Star Management Corp. executive team is Mr. José F. Lomeña Trigo, our Operations Manager. Mr. Lomeña is in charge of all management related duties in the projects, including direct supervision of Project Managers, oversight of day-to-day project operations, site inspections, tenant compliance and Investor/Owner relations.
Star Management Corp. is proud to be considered as one of the top housing management firms in Puerto Rico. Our hard work, vast experience and track record speaks for itself.