Tag: neighborhood stabilization program
The federal Neighborhood Stabilization Program is a welcome source of funds in struggling communities, and it has had a massive effect on the nature of the response to the problem of vacant foreclosed property. As NSP3 gets underway and the NSP1 obligation period comes to a close, Shelterforce looks back at NSP so far.
In the past decade, community land trusts and other shared equity housing models have gained wider acknowledgement and acceptance as a means of creating and preserving affordable housing in communities with high property values. But by cultivating the long-term success of homeowners, these models are also bringing revitalization and stability to areas with weak markets and high foreclosures.