§ 503. Powers of municipalities. Every municipality is hereby\nauthorized to plan and undertake one or more urban renewal projects and\nshall have the powers necessary or convenient to carry out and\neffectuate such project or projects and the purposes and provisions of\nthis article, including but not limited to the following powers:\n (a) Cooperate with the federal government and apply for and accept\nadvances, loans, grants, subsidies, contributions and any other form of\nfinancial assistance from the federal government, or from the state,\ncounty or other public body, or from any sources public or private, for\nthe purposes of this article; and to give such security as may be\nrequired and to enter into and carry out contracts or agreements in\nconnection therewith; and to include in any contract for financial\nassistance with the federal government for or with respect to an urban\nrenewal project, or with respect to any other program authorized under\nthe housing act of nineteen hundred forty-nine, and all other federal\nlaws amendatory and supplemental thereto, such conditions imposed\npursuant to federal laws as the municipality may deem reasonable and\nappropriate and which are not inconsistent with the purposes of this\narticle. Such conditions may include but shall not be limited to (1)\nprovisions requiring payment of not less than certain minimum salaries\nand wages to architects, engineers, technicians, laborers, mechanics and\nother personnel; (2) provisions prohibiting rebates and kick backs; and\n(3) provisions requiring contractors and subcontractors to furnish\nreports and other data to the secretary of labor;\n (b) Provide local grants-in-aid, as provided under such federal laws,\nin the form of appropriations, cash, municipal services and facilities,\nor any other form;\n (c) Borrow money and issue bonds or other obligations for the\nacquisition of property in the same manner as for the acquisition of\nproperty for other public purposes or as otherwise provided in article\ntwo of the local finance law;\n (d) Provide for demolition and clearance of property, improvement of\nproperty, or development and use of air rights and concomitant easements\nor other rights of user necessary for the use and development of such\nair rights and air right sites, including the remedying of unsuitable\ntopographical, subsoil or other physical conditions which impede\ndevelopment within the urban renewal area, and construction of\nfoundations and platforms as well as other necessary site work by the\nmunicipality or by the person, firm or corporation to whom such\nproperty, air rights and easements or air rights site, is sold or\nleased, provided, however, that any such work upon or affecting railroad\nproperty, right-of-way or facilities shall be subject to the approval of\nand joint supervision by the railroad company or companies affected. No\nwork upon or affecting railroad property, right-of-way or facilities\nshall be progressed without the approval of the railroad company or\ncompanies, and in connection with all such projects upon or affecting\nrailroad property, right-of-way or facilities appropriate standards for\nsafety of operations, ventilation and lighting shall be subject to the\napproval of the railroad company or companies affected. In the event\nthat such demolition, clearance, improvement or development is done by\nthe municipality or funded by the municipality, the cost thereof may be\nfinanced in the same manner as acquisition costs. Any municipality with\na population of one million or more persons may provide a loan for the\npurpose of carrying out such demolition, clearance, improvement or\ndevelopment and use to the person, firm or corporation to whom such\nproperty, air rights, easements or air rights site is sold or leased.\nSuch loans shall be made upon terms and conditions approved by the\nagency, for a term not to exceed thirty years;\n (e) Develop, test and report methods and techniques a
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