(a) A political subdivision has all the powers necessary or convenient to aid and cooperate in the planning, undertaking, construction, or operation of:

1. (1) a housing project under this article; or
2. (2) a similar project of the federal government.

(b) The powers granted to a political subdivision by this section include the power to:

1. (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. (2) plan or replan, zone or rezone any part of the political subdivision;
3. (3) make exceptions from building regulations and ordinances;
4. (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. (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. (6) incur the entire expense of any public improvements it makes in exercising the powers granted in this chapter;
7. (7) provide financial assistance of any nature to a housing authority;
8. (8) acquire for, lease or transfer to, or exchange or trade with a housing authority any interest in real or personal property; and
9. (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. (1) acquires or takes over a housing project from the federal government; and

2. (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.

   [Pre-Local Government Recodification Citation: 18-7-12-4 part.]

   As added by Acts 1981, P.L.309, SEC.38.