Whether a community decides to purchase and rehabilitate homes for resale, demolish vacant homes, or create land banks to help control the destiny of these properties, the collaborative problem-solving approach used by NSP is one that can make the most of limited resources.
Neighborhood stabilization is doubtless the precursor to community development in some communities and, in recognition of this, the federal banking agencies amended CRA regulations to specifically recognize neighborhood stabilization activities in designated NSP  1  See Thomas J. Fitzpatrick IV (2010), “How Modern Land Banking Can Be Used to Solve REO Acquisition Problems,” in REO and Vacant Properties: Strategies for Neighborhood Stabilization (PDF), proceedings of the conference, REO and Vacant Properties: Strategies for Neighborhood Stabilization, cosponsored by the Federal Reserve Banks of Boston and Cleveland and the Federal Reserve Board (Washington: Federal Reserve Board of Governors), pp.