The General Assembly finds that: there are in the area of operation of the Washington Authority unsafe and unsanitary housing and a shortage of safe and sanitary housing for persons of eligible income; these conditions cause too much public money to be spent for crime prevention and punishment, public health and safety, fire and accident protection, and other public services and facilities; the public interest requires the remedying of these conditions; the assistance provided under this title to remedy these conditions is a public use and purpose and an essential governmental function for which public money may be spent; and this title is necessary in the public interest.