Section 50. An urban renewal agency is hereby authorized to delegate to a city or town or other public body or to any board or officer of a city, town or other public body any of the powers or functions of the agency with respect to the planning or undertaking of an urban renewal project in the area in which such city, town or other public body is authorized to act, and such city, town or other public body, or such board or officer thereof, is hereby authorized to carry out or perform such powers or functions for the agency. Any public body is hereby authorized to enter into agreements which may extend over the period of a loan to the urban renewal agency by the federal government, notwithstanding any provision of rule of law to the contrary, with any other public body or bodies respecting action to be taken pursuant to any of the powers granted by this chapter, including the furnishing of funds or other assistance, in connection with an urban renewal plan or urban renewal project. An urban renewal agency, to the greatest extent it determines to be feasible in carrying out the provisions of this chapter, shall afford maximum opportunity consistent with the sound needs of the city or town as a whole for the rehabilitation or redevelopment of decadent, substandard or blighted open areas by private enterprise.
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