In addition to the powers conferred on state agencies, the center shall have the following powers:

1. (1) to make, amend and repeal rules and regulations for the management of its affairs;
2. (2) to make contracts and execute all instruments necessary or convenient for the carrying on of its business;
3. (3) to acquire, own, hold, dispose of and encumber personal property and to lease real property in the exercise of its powers and the performance of its duties; and
4. (4) to enter into agreements or transactions with any federal, state or municipal agency or other public institution or with any private individual, partnership, firm, corporation, association or other entity.