§ 301. Policy of state and purpose of article. It is recognized that there exist in New York state certain neighborhoods, which, because of heavy in-migrations and other factors, have been characterized by over-crowding of population, extensive absentee ownership, and concentrated occupancy particularly by racial minorities. Because of the special appraisal and servicing problems peculiar to such areas the supply of available mortgage money in these areas is insufficient. It is the declared policy of the state that a medium be established, owned and financed entirely through private enterprise institutions, through which the mortgage money necessary to re-establish these neighborhoods as sound communities would be made available on a sound profit-making basis.