(a) The General Assembly finds that: (1) some communities and neighborhoods in the State are in economic and social distress because of a shortage of significant private investment;(2) financial institutions in the State are recognizing a heightened responsibility to provide financial assistance to these communities and neighborhoods; and(3) federal and State regulators are requiring more community reinvestment by these financial institutions.(b) The General Assembly therefore finds that the public interest is served by promoting the development of a financial vehicle to be operated by private financial institutions to:(1) increase community reinvestment to neighborhoods and communities in the State that have urgent need for reinvestment;(2) make community reinvestment by financial institutions easier and more desirable by spreading the financial risk and offering the experience of the State in providing community reinvestment lending; and(3) forge partnerships among financial institutions and the State in meeting community reinvestment goals.