It has been found and declared in the Housing Authorities Law¹ that there exist in this Commonwealth unsafe and insanitary housing conditions and a shortage of safe and sanitary dwelling accommodations for persons of low income, that these conditions necessitate excessive and disproportionate expenditures of public funds for crime prevention and punishment, public health and safety, fire and accident protection, and other public services and facilities, and that the public interest requires the remedying of these conditions. It is hereby found and declared that the assistance herein provided for the remedying of the conditions set forth in the Housing Authorities Law constitutes a public use and purpose, and an essential governmental function for which public moneys may be spent, and that the provisions hereinafter enacted are necessary in the public interest.