Maine State Housing Authority Director John Gallagher plans to retire on Jan. 5 after five years of leadership at the $1.6 billion financial institution.

Gallagher said Friday in a news release that he has notified Gov. Paul LePage and MaineHousing Board of Commissioners Chairman Peter Anastos of his decision to retire.

“The decision to leave MaineHousing was not an easy one,” Gallagher said. “My time here has been professionally and personally rewarding. I’m proud to have contributed to the business growth of MaineHousing, along with providing leadership and guidance toward setting a new direction for the organization.”

John Gallagher

Under Gallagher’s leadership, MaineHousing evaluated and redefined its mission and goals through a strategic planning process that included its partners and customers. By strengthening relationships with partners, including developers, local public housing authorities, community action agencies, landlords, property management companies and state agencies, more Maine people are being served, an accomplishment that’s been achieved while funding for federal programs that MaineHousing administers has remained stable, it said.

MaineHousing’s fiscal management has led to its maintaining an AA+ bond rating throughout the long-lasting financial crisis that began in 2008 while other housing finance authorities fell a full grade, the release said.

During Gallagher’s five-year tenure, MaineHousing made 3,900 first-time homebuyer loans, completed 80 housing projects providing more than 2,100 Mainers with affordable homes with another 2,500 in the pipeline, and worked with state elected officials to increase funding for homeless shelters and to restore funding for the state’s affordable housing trust fund.

LePage will nominate a new director and the Legislature’s Labor, Commerce, Research, and Economic Development Committee will consider the nominee for confirmation.

J. Craig Anderson can be contacted at 791-6390 or at:

[email protected]

Twitter: jcraiganderson