Section 1. Legislative findings and purpose. The legislature hereby
finds that in certain municipalities of the state there exists
substandard and unsanitary housing due to obsolescence, deterioration
and dilapidation of buildings which provide single room dwelling
accommodations; that there exists a need to provide safe and sanitary
single room dwelling accommodations for persons of low income who are
unable to live in self-contained apartments; that the present condition
is contrary to the public interest and threatens the health, safety,
welfare, comfort and security of the people of the state; and that the
public interest requires projects to provide for the reconstruction,
rehabilitation and improvement of such existing buildings. The
legislature therefore finds that provision should be made for the
housing trust fund corporation as established by section forty-five-a of
the private housing finance law to contract with not-for-profit
corporations for the accomplishment of such projects.