The General Assembly finds that:
(1) in this era of rapid population growth and expansion and of increasing urbanization, there is a need in many areas of the State to promote sound community development;(2) the political subdivisions do not have adequate resources to deal effectively with all of the problems of sound community development, and the ordinary operations of private enterprise cannot deal with them without State assistance;(3) there is a need to coordinate and concentrate federal, State, regional, and local public and private community development efforts and resources;(4) there is a shortage of adequate, safe, and sanitary housing for families of limited income, and increasing the housing supply for families of limited income will ease the shortage and promote sound community development;(5) increasing opportunities for homeownership is desirable and promotes sound community development;(6) reducing energy consumption and increasing the use of solar energy by providing financial assistance to encourage energy conservation and solar energy improvements to residential buildings and commercial buildings promote sound community development and the public interest;(7) the public infrastructure maintained by political subdivisions, including streets, sidewalks, curbs, sewer and water systems, bridges, and public buildings, needs rehabilitation and construction;(8) the resources necessary for financing infrastructure projects have become scarcer in recent years;(9) providing an additional, accessible, and uncomplicated mechanism to finance infrastructure projects promotes sound community development, is vital to a strong economy, improves the quality of the environment, and otherwise promotes the health, safety, and welfare of the residents of the State;(10) promoting sound community development is a proper public purpose and State use, for which public money may be spent and property may be acquired; and(11) the functions and responsibilities of the Administration set forth in this subtitle are necessary to achieve the ends listed in this section.