(a)      (1)      In this section the following words have the meanings indicated.

            (2)      "Housing or housing projects" means any undertaking or project, or a portion of it, including lands, buildings, and improvements, real, mixed, and personal properties, or an interest in them that is planned, acquired, owned, developed, constructed, reconstructed, rehabilitated, or improved for the purpose of providing dwelling accommodations for persons of eligible income, streets, roads, sewer and waterlines, and other supporting public and private facilities intended for commercial, educational, cultural, recreational, community, or other civic purposes as may be deemed necessary for sound community development.

            (3)      "Persons of eligible income" means persons who individually or as part of a family unit lack sufficient income or assets to enable them, without financial assistance, to live in decent, safe, and sanitary dwellings without overcrowding.

      (b)      (1)      The Board of County Commissioners of Washington County:

                  (i)      Shall adopt all policies, rules, regulations, or amendments that are necessary for the implementation of federally or State assisted housing programs; and all policies, rules, regulations, and amendments that are necessary for the implementation of locally funded housing programs undertaken pursuant to this article;

                  (ii)      Shall review and approve all projects proposed by the Housing Authority of Washington County prior to commencement of the project;

                  (iii)      Shall establish an upper income limit; and

                  (iv)      In the case of special projects, may establish exceptions to the upper income limits.

            (2)      This subsection shall be inapplicable if its application would disqualify the State or any county from receiving any federal funds.

      (c)      The Housing Authority of Washington County, in addition to the powers enumerated in this article and provided by local law, subject to the authority of the Board of County Commissioners as set forth in subsection (b) of this section, may:

            (1)      Make mortgage loans and make rent subsidy payments to persons of eligible income;

            (2)      Make construction loans and long-term mortgage loans to any person, firm, partnership, association, joint venture, or corporation, public or private, to produce housing for persons of eligible income; or

            (3)      Waive income limits for persons 65 years or older.

      (d)      (1)      In addition to the powers enumerated in this article, the Authority may exercise its powers as granted by this article irrespective of the fact that such activities may displace or limit economic competition.

            (2)      The powers granted to the Authority pursuant to paragraph (1) of this subsection may not be construed:

                  (i)      To grant to the Authority powers in any substantive area not otherwise granted to the Authority by other public general or public local law;

                  (ii)      To restrict the Authority from exercising any power granted to the Authority by other public general or public local law or otherwise;

                  (iii)      To authorize the Authority or its officers to engage in any activity which is beyond their power under other public general law, public local law, or otherwise; or

                  (iv)      To preempt or supersede the regulatory authority of any State department or agency under any public general law.

      (e)      Bonds of the Housing Authority of Washington County may be sold either at public or private sale in the manner and upon the terms as are authorized by resolution of the Authority.