The legislature finds and declares that there exists in New York state a serious need to assist communities with the creation and improvement of affordable housing, and the commercial, retail and community facilities related to mixed use affordable residential developments. Locally based not-for-profit organizations play a significant role in addressing the unique characteristics of rural and urban communities. Partnerships, alliances and collaborations with corporate entities, to the extent practicable, will foster cross-sector collaboration in order to build a diverse community support system. The legislature finds that, in both rural and urban areas of the state, a program should be established to fund the creation, preservation and/or improvement of affordable housing; or the creation, preservation or improvement of the commercial, retail or community facilities component of mixed use affordable residential developments.