(a)      It is hereby found and declared that there exist in Montgomery County unsafe and unsanitary housing conditions and a shortage of safe and sanitary dwelling accommodations for persons of eligible 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 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.

      (b)      In Montgomery County the State public body shall have the powers enumerated in this article to aid and cooperate with the Housing Opportunities Commission in the planning, undertaking, construction, or operation of housing or housing projects for persons of eligible income. For purposes of this section, the phrase "persons of eligible income" shall mean persons who individually or as part of a family unit lack sufficient income or assets (as determined by the Montgomery County Executive or his designee) to enable them, without financial assistance, to live in decent, safe, and sanitary dwellings without overcrowding. For purposes of this section, the phrase "housing or housing project for persons of eligible income" means any undertaking or project, or portion thereof, including lands, buildings and improvements, real, mixed and personal properties or interest therein that is planned, acquired, owned, developed, constructed, reconstructed, rehabilitated, or improved for purposes of providing dwelling accommodations a substantial portion of which accommodations shall be for persons of eligible income, and such streets, roads, sewer and waterlines, and other supporting public and private facilities intended for commercial, educational, cultural, recreational, community, or other civic purposes as may be deemed necessary for sound community development.