Concept information
Preferred term
neighborhood stabilization program
Definition
- The Neighborhood Stabilization Program (NSP) is the term used to describe the activities authorized by three congressional appropriations made in 2008, 2009, and 2010, which enabled states, local governments, and nonprofit entities to acquire and reuse foreclosed and abandoned properties. The NSP was a major new federal initiative to help states and localities address the effects of the foreclosure crisis and can be considered the most important federal housing and urban revitalization initiative of the first decade of the 2000s. [Source: The Encyclopedia of Housing; Neighborhood Stabilization Program]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/neighborhood_stabilization_program
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