Federal Reserve Bank of San Francisco

Community Development

Community Investments Vol 21, Issue 1
Foreclosure Update: The National Community Stabilization Trust

Author(s):

Spring 2009

Community Investments

As local governments grapple with the negative spillover effects of foreclosure in their communities, an important national initiative is underway to assist localities in acquiring and redeveloping foreclosed and abandoned properties. Known as the National Community Stabilization Trust (the Trust), this initiative represents an unprecedented collaboration of the nation’s four leading housing and community development nonprofit organizations – Enterprise Community Partners, the Housing Partnership Network, the Local Initiatives Support Corporation (LISC), and NeighborWorks America. The National Urban League has also recently joined the Trust as a partner, providing an invaluable community and resident empowerment perspective as well as expertise in addressing economic development and workforce issues.

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