(1) in Baltimore City and in the area of operation of the Baltimore Authority there is unsafe and unsanitary housing, and there is a critical shortage of decent, safe, and sanitary housing that persons of eligible income can afford to rent or buy;

(2) as a result of this shortage, persons of eligible income must occupy overcrowded and congested housing or must pay too much of their income for shelter;

(3) these conditions require too much public money to be spent for public health and safety, fire and accident protection, crime prevention and punishment, and other public services and facilities;

(4) the shortage of decent, safe, and sanitary housing cannot be wholly relieved through private enterprise, and therefore building housing for persons of eligible income and spending public money to help get it built do not compete with private enterprise;

(5) the construction and operation of housing to remedy the conditions described in this section and the implementation of this title are valid public purposes and essential government functions for which public money may be spent; and

(6) the provisions of this title are necessary in the public interest.