The commissioner, in consultation with the commissioner of health and utilizing information requested from the responsible local officials as well as relevant information developed through titles eleven and thirteen of this article, shall cause to be prepared an inventory of existing significant deficiencies in water supply availability throughout the state, including specific needs for improvement, rehabilitation and establishment of water supply, distribution and transmission facilities. Such inventory shall also identify those water supply systems affected or threatened by intrusions of hazardous materials or wastes and the nature of remediation required. Such inventory shall be completed and transmitted to the governor, legislature and the council by July first, nineteen hundred eighty-five. The commissioner in consultation with the secretary of state, shall also cause to be prepared a review and summary of existing statutory and constitutional provisions relating to the provision and financing of water supply facilities by local governments, including such provision and financing through inter-local cooperation. Such review and summary shall also identify any existing statutory and constitutional constraints against the effective and efficient provision of sound financing, on a revenue or general obligation basis, of such facilities. Such review and summary shall be completed and transmitted to the governor, legislature and the council by January first, nineteen hundred eighty-six. At such time and based upon the above inventory and review and summary, the commissioner shall also cause to be prepared a compilation of those instances in which correction of existing significant deficiencies appears to be beyond the reasonable financial capabilities of the affected communities.