The General Assembly finds and declares as follows:
(1) There are deteriorated properties located in all municipalities of this Commonwealth as a result of neglect by their owners in violation of applicable State and municipal codes.
(2) These deteriorated properties create public nuisances which have an impact on crime and the quality of life of our residents and require significant expenditures of public funds in order to abate and correct the nuisances.
(3) In order to address these situations, it is appropriate to deny certain governmental permits and approvals in order:
(i) To prohibit property owners from further extending their financial commitments so as to render themselves unable to abate or correct the code, statutory and regulatory violations or tax delinquencies.
(ii) To reduce the likelihood that other municipalities will have to address the owners' neglect and resulting deteriorated properties.
(iii) To sanction the owners for not adhering to their legal obligations to the Commonwealth and its municipalities, as well as to tenants, adjoining property owners and neighborhoods.