A.
It is the considered opinion of the Mayor and Borough Council that senior citizens of low income in the community are entitled to safe and sanitary housing accommodations at rentals such persons can afford, and such low rental housing accommodations are in extremely short supply and overcrowded and congested housing will eventuate from such a shortage and thereby impair public safety and economic values.
B.
The shortage of such safe and sanitary housing for low income senior citizens cannot be totally relieved through private enterprise, and therefore, new and rehabilitated construction of housing projects and facilities would not be competitive with private enterprise.
C.
It is a governmental function to seek public moneys to acquire property and construct and/or rehabilitate or lease housing facilities for low income senior citizens.
D.
The Borough of Fair Lawn is desirous of having its territorial area included in the area of operations of "The Housing Authority of Bergen County."