The Department of Economic Development is hereby authorized to cooperate with the planning commissions and development boards, or other similar agencies of other states, and with county, municipal and regional planning commissions or other agencies thereof, for the purposes of securing coordinated community and statewide planning within this state. The Department of Economic Development is further authorized to provide services to include, but not be limited to, planning assistance to cities and other political subdivisions within the state and county; joint municipal, county, regional and metropolitan commissions in the solution of their planning problems; and to contract for, receive and expend federal, state and other funds, whether private or public, for such planning activities, and to that end, there is hereby created within the Department of Economic Development a special fund designated as the “planning fund” to be kept separate and apart from all other funds received by the Department of Economic Development and into which all funds received for planning purposes shall be deposited. Planning assistance, as used in this chapter, shall include the preparation of population, land use, traffic, parking and economic base studies, the preparation of proposed subdivision regulations and zoning ordinances, and the development of plans to guide public and private development.