The General Assembly finds that: some communities and neighborhoods in the State are in economic and social distress because of a shortage of significant private investment; financial institutions in the State are recognizing a heightened responsibility to provide financial assistance to these communities and neighborhoods; and federal and State regulators are requiring more community reinvestment by these financial institutions. 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: increase community reinvestment to neighborhoods and communities in the State that have urgent need for reinvestment; 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 forge partnerships among financial institutions and the State in meeting community reinvestment goals.