Powers of political subdivisions

Sec. 3. (a) A political subdivision has all the powers necessary or convenient to aid and cooperate in the planning, undertaking, construction, or operation of: (1) a housing project under this article; or (2) a similar project of the federal government. (b) The powers granted to a political subdivision by this section include the power to: (1) furnish, dedicate, close, pave, install, grade, regrade, plan, or replan public ways, sidewalks, or other places, if it is otherwise empowered to do so; (2) plan or replan, zone or rezone any part of the political subdivision; (3) make exceptions from building regulations and ordinances; (4) enter into agreements (which may extend over any period, notwithstanding any law to the contrary) with a housing authority or the federal government respecting powers to be exercised by the political subdivision under this chapter; (5) purchase or legally invest in the bonds, notes, or warrants of a housing authority and exercise all of the rights of a holder of housing authority bonds, notes, or warrants; (6) incur the entire expense of any public improvements it makes in exercising the powers granted in this chapter; (7) provide financial assistance of any nature to a housing authority; (8) acquire for, lease or transfer to, or exchange or trade with a housing authority any interest in real or personal property; and (9) exercise all powers granted by this section upon terms determined by the fiscal body of the political subdivision. (c) Notwithstanding subsections (a) and (b), if a housing authority: (1) acquires or takes over a housing project from the federal government; and (2) finds, by resolution, that the project is constructed in a manner that promotes the public interest and affords necessary safety, sanitation, and other protection; a political subdivision may not require any changes in the housing project.