The Team

Bob Stevens, M&S DevelopmentBob Stevens, PE
Principal, LEED AP, CNU

Bob is a co-founder of M&S Development, and founder of Stevens & Associates, P.C., a  design and development firm specializing in historic and architecturally significant projects. With 28 years’ experience working on affordable housing, historic mixed-use downtown development, and complex feasibility consulting, and with multiple professional affiliations, Bob has established deep connections with many communities, and with state and national funders, investors, regulators, and policy makers in the region. Bob has been instrumental in deal structuring, loan sourcing and capital raising for over $100 million in NMTC projects since 2011. His work and community support have been recognized with numerous awards including the Vermont Downtown Volunteer of the Year and the Southern Vermont Leadership Award for Economic Excellence.



Skye Morse, M&S DevelopmentSkye Morse
Principal, Investment Director

Skye is a Principal and the Investment Director at M&S Development, in which capacity he oversees all capital raising and deployment, asset management, marketing, investor relations, and strategic business initiatives. He brings fifteen years’ experience in financial management, risk analysis, business development, project management and knowledge of risk underwriting, large scale asset management, all aspects of project and construction management, tax equity funding and due diligence. He previously managed a $1billion portfolio of solar energy assets and oversaw more than $700 million in new solar construction.



Katie Stuart-Buckley
Principal, Director of Project Development

Katie’s experience and expertise reflects the M&S mission of Empowering Community Revitalization.  She has led a broad range of initiatives from community-driven and non-profit development work to statewide policy creation in the areas of housing, land-use, community and economic development and historic preservation.  Katie is a thoughtful collaborator and is adept at forming creative partnerships that advance projects.  As Director of Project Development, she connects economically challenged communities to the services offered by M&S and leads stakeholders through the demanding process required for successful and sustainable downtown revitalization projects.  She utilizes her personal and professional experience to support businesses, institutions, local officials and community members to identify the key elements necessary to unlock economic and social viability and vitality.  She listens closely to clients and provides sound guidance to unite partners and develop strategic plans that include complex capital funding packages.

Before joining the M&S team, Katie held leadership roles involving municipal management and finance, sensitive redevelopment of historic buildings for adaptive reuse, non-profit affordable housing, and community and economic development.  Most recently she served as the Commissioner of Housing & Community Development in the Agency of Commerce & Community Development for the State of Vermont, appointed by the Governor.



Martha Ratcliffe, M&S DevelopmentMartha Ratcliffe
Senior Manager of Project Development

Martha brings nearly thirty years’ experience in financial analysis, risk underwriting, capital raising and deployment, and project management with affordable housing, mixed-use, light industrial, and health care projects. Martha leads projects from feasibility studies, budget development, the complexities of funding with LIHTC, HTC, HUD and USDA RD, private, local and state funding procurement and closings, through construction management and grant compliance. She has helped create 120 affordable housing units and nearly a dozen single family ownership units through the HARP program. Previously, she was responsible for risk underwriting, including navigating the complexities of investor (Fannie Mae, Freddie Mac, FHA, and non-government investor) guidelines and regulations.



Gabby Ciuffreda, M&S DevelopmentGabrielle Ciuffreda
Manager of Project Development

Gabrielle brings 20 years of diverse experience in real estate/asset management, financial management, environmental and regulatory compliance and intellectual property law. Gabrielle provides pre-development consulting and project management assistance, provides grant-writing support to clients and community groups.  She performs project underwriting, including business plan review, permitting feasibility, construction schedule development & review, and community outreach. She is instrumental in capital raising and deployment and loan sourcing and is particularly adept at sourcing brownfields funding.



Ann Dillon
Chief Financial Officer

Ann is the CFO for M&S Development and Stevens & Associates.  She brings over 25 years of finance experience including project management, financial reporting and public accounting to this position.  In this role, Ann manages each company’s accounting, tax management, financial planning, analysis and reporting.  In addition to her career in finance, Ann is active within her community by serving several neighborhood and regional organizations.




Deb Moser

Deb is an accountant for M&S Development and Stevens & Associates. She has over 30 years of management experience in finance, and has held various positions including Risk Manager, Controller, Business Analyst, and Project Manager. She worked for several years in the investment banking/financial services industry, where she honed her financial skills and applied them to address financial statement preparation, reporting and forecasting; operational risk mitigation; and internal control improvements.

As part of the M&S team, she is responsible for the bookkeeping, the preparation of financial statements and reporting packages, and the loan and tax credit compliance related to real estate development projects.