Neighborhood Stabilization Program
E65830
The Neighborhood Stabilization Program is a federal initiative created to help communities recover from the foreclosure crisis by funding the purchase, rehabilitation, and redevelopment of abandoned and foreclosed homes.
All labels observed (3)
| Label | Occurrences |
|---|---|
| Neighborhood Stabilization Program canonical | 1 |
| Neighborhood Stabilization Program (legacy/oversight) | 1 |
| Neighborhood Stabilization Program grants | 1 |
Statements (38)
| Predicate | Object |
|---|---|
| instanceOf |
United States government program
ⓘ
federal housing assistance program ⓘ |
| administeredBy |
United States Department of Housing and Urban Development
ⓘ
surface form:
U.S. Department of Housing and Urban Development
|
| beneficiary |
local governments
ⓘ
nonprofit housing organizations ⓘ state governments ⓘ |
| country |
United States of America
ⓘ
surface form:
United States
|
| designedInResponseTo |
United States housing market collapse of the late 2000s
ⓘ
foreclosure crisis in the United States ⓘ |
| funds |
demolition of blighted structures
ⓘ
land banking of foreclosed properties ⓘ purchase of abandoned homes ⓘ purchase of foreclosed homes ⓘ redevelopment of abandoned and foreclosed properties ⓘ rehabilitation of residential properties ⓘ |
| goal |
to increase availability of affordable rental housing
ⓘ
to prevent neighborhood blight ⓘ to reduce residential vacancy ⓘ to support affordable homeownership ⓘ |
| intendedEffect |
to stabilize property values in distressed neighborhoods
ⓘ
to support community recovery after widespread foreclosures ⓘ |
| mechanism |
competitive grants for neighborhood stabilization activities
ⓘ
formula grants to states and localities ⓘ |
| outcomeType |
demolished blighted structures
ⓘ
redeveloped residential properties ⓘ rehabilitated housing units ⓘ |
| policyArea |
foreclosure prevention and recovery
ⓘ
neighborhood revitalization ⓘ |
| purpose |
to help communities recover from the foreclosure crisis
ⓘ
to mitigate the negative effects of abandoned and foreclosed homes ⓘ to stabilize neighborhoods with high rates of foreclosure ⓘ |
| requires |
compliance with federal affordability requirements
ⓘ
use of funds in targeted areas of greatest need ⓘ |
| sector |
community development
ⓘ
housing ⓘ |
| shortName | NSP ⓘ |
| targetArea |
areas with high concentrations of foreclosures
ⓘ
low- and moderate-income neighborhoods ⓘ |
Referenced by (3)
Full triples — surface form annotated when it differs from this entity's canonical label.
Housing and Economic Recovery Act of 2008
→
authorizesFunding
→
Neighborhood Stabilization Program
ⓘ
this entity surface form:
Neighborhood Stabilization Program grants
Office of Community Planning and Development
→
programAdministered
→
Neighborhood Stabilization Program
ⓘ
this entity surface form:
Neighborhood Stabilization Program (legacy/oversight)