The revitalization and redevelopment of the City of Brewton and the economic development of the city develop and promote the public good and general welfare, trade, commerce, industry, and employment opportunities and promote the general welfare of the city and state by creating a climate favorable to the location of new industry, trade, and commerce, and the development of existing industry, trade, and commerce. Revitalization and redevelopment and the economic development of the city by financing projects under this part will develop and promote for the public good and general welfare, trade, commerce, industry, and employment opportunities and will promote the general welfare of the city and state. It is therefore in the public interest and is vital to the public welfare of the people of Brewton and of Alabama, and it is hereby declared to be the public purpose of this part to so revitalize and redevelop the city and provide for the economic development of the City of Brewton.