In Space Setup, you can add or change labels, manage user permissions, change the display settings (including modifying the section layout), and setup the space to read an email box.
You must have Server Setup permission, or Space Setup permission in at least one space to access Space Setup.
To access Space Setup, click the Space Setup link in the Tools menu.
You will arrive at the Space Setup - Tags tab. (Terminology note: TeamPage 5.0 replaced the term "Project" with "Space" in Jun 2010, see Customer2797)