Finds that major public facilities, public works, and capital projects with significant public funding generally aim to accrue broad benefits to the people of Washington. However, frequently overlooked or inadequately addressed is the interest of the stakeholder community that bears the disproportionate cost of the broad public benefit by absorbing a deleterious impact upon itself. These impacts may include dislocation, displacement, and the overall disintegration of an identifiable existing community and its historical and cultural character.

Finds that the preservation and restoration of the character of such a community, and the community's historical and cultural character, are important public policy goals that can be achieved through the creation of community preservation and development authorities.