§ 1220. Statement of legislative findings and purpose. The legislature
hereby finds and declares that there exists in New York state a serious
need for financial and technical resources to help communities with
their efforts to preserve and revitalize main street and downtown
business districts which include commercial and residential uses. The
legislature therefore finds that a program should be established to
provide financial assistance to stimulate reinvestment in properties
located within main street, mixed-use commercial, and downtown business
districts in urban, small town, and rural areas by preserving existing
housing units, fostering the development of new housing units, upgrading
commercial and retail areas, and by creating innovative approaches to
neighborhood and community revitalization, including the improvement of
cultural, civic and community facilities.