The Legislature makes the following statements and findings:
(1) Cities have hundreds of miles of roads and streets located in subdivisions that are in need of upgrades or additions. These upgrades or additions are behind schedule and at the current rate will take considerably more years to complete, if ever. These upgrades or additions include, but are not limited to, sanitary sewer, drainage, curb and gutter, sidewalk, underground power, and asphalt overlaying.
(2) Homeowners and business owners would benefit from the voluntary formation of neighborhood infrastructure authorities to oversee and finance infrastructure projects through an assessment basis.
(3) An effective neighborhood infrastructure program would have the following benefits:
a. Jobs would be created.
b. Property values would be stabilized and/or increased.
c. Upgrade and additional work would be expedited.
d. Savings would be created for the city.
e. Revenues would be created for city, state, and federal governments.