The authority: (1) May participate in any state or federal programs of low and moderate income housing assistance and community development; and (2) For this purpose may: (i) Enter into and perform a contract or agreement with the state, the United States, or a federal agency; (ii) Develop or operate a housing project if approval by ordinance or resolution is obtained from the governing body and chief elected official of the local jurisdiction where the housing project is located; (iii) Act as a public housing agency within the meaning of the federal law and as an authority within the meaning of state law; and (iv) Do anything necessary or convenient for its participation.
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