The Vermont Housing Finance Agency (VHFA) announced today the promotion of Deborah Flannery to Deputy Executive Director, a new leadership role created to support the Agency’s rapid growth in housing investments and mission impact statewide.
Flannery joined VHFA in January 2025 as Managing Director of Community Development, where she has overseen development finance and asset management. In her expanded role, she will also oversee homebuyer mortgage programs in a unified program operations structure designed to help VHFA finance more homes for low‑ and middle‑income Vermonters while maintaining strong stewardship of public and private capital. This structure is a core component of VHFA’s broader effort to increase housing production, preservation, and long‑term affordability in Vermont.
Flannery brings over 30 years of senior leadership experience in affordable housing and community development across the public, nonprofit, and private sectors. Her career is marked by a consistent record of growing investment capacity, launching innovative financing tools, and delivering measurable community impact.
Prior to joining VHFA, she served as Deputy Secretary of the Rhode Island Housing Department, where she helped deploy more than $100 million in capital for housing production and preservation and advanced new housing finance programs and regulations. Before that, she was Vice President of Lending at Evernorth in Burlington, Vermont, where she led multi‑state CDFI lending operations, launched new lending affiliates, and helped establish the Upper Valley Loan Fund in partnership with regional employers and anchor institutions. Earlier in her career, Flannery held senior leadership roles at the Greater Minnesota Housing Fund, Iowa Finance Authority, and Dakota County Community Development Agency, where she drove dramatic increases in both single family and multi-family loan production and capital availability, administered housing tax credit and bond programs, administered tax increment financing, provided technical assistance to municipalities, developed affordable housing, and led statewide efforts to preserve federally assisted and other at‑risk affordable housing.
In addition, she has served on the Governing Council for Housing Action New Hampshire, chaired the Town of Essex Housing Commission, served as Board Chair for Habitat for Humanity of Minnesota and the Minnesota Homeownership Center, and chaired the Minnesota Supportive Housing Stewardship Council.
Since joining the Agency at the start of 2025, Flannery has been instrumental in growing Agency investments in rental housing development from $52 million in 2024 to $77 million in 2025. Investments during 2026 to date are up an additional 19 percent compared to last year. VHFA’s investments in the development of for-sale homes increased by 7.5 times over the prior 5-year average (from an average of $1.8 million per year between 2020-2024 to $15.5 million since January 2025).
“Increasing our impact on Vermont’s housing needs is the central focus of VHFA’s work today,” said Maura Collins, Executive Director of VHFA. “Deb’s depth of experience, proven ability to scale investments, and strong track record of collaboration make her exceptionally well‑suited to help guide VHFA through this next phase of growth.”
Flannery holds a Master’s degree in Urban and Regional Planning from the University of New Orleans, a Housing Finance Professional Certification from the National Development Council, and an executive leadership certification from the University of Notre Dame.
Flannery assumed the role of Deputy Executive Director in March 2026.