(1) The health, safety, and general welfare of the people of the State require that every opportunity be taken to assist the redevelopment of the Barbers Point Naval Air Station and that the redevelopment and revitalization of this area will alleviate community needs for employment, housing, parks, open space, and commercial and industrial facilities;

(2) A significant deterrent to redevelopment is the cost of public facilities including infrastructure;

(3) Interest rates on moneys necessary to finance those public facilities add significantly to the cost of the facilities and more favorable interest rates would be available through the issuance of tax-exempt bonds; and

(4) The availability of revenue bonds to finance the cost of public facilities will facilitate redevelopment of portions of Barbers Point Naval Air Station designated in this chapter as the Kalaeloa community development district.