(a)      In accordance with regulations that the Secretary adopts, an agreement that the Administration makes to carry out its functions and responsibilities under §§ 4-211, 4-214, and 4-225 through 4-235 of this subtitle shall be approved by:

            (1)      the Secretary; and

            (2)      the Board of Public Works, if its approval is required by law.

      (b)      The Administration shall get approval of the land use for a community development project by resolution of the appropriate governing body of the locality in which the development is located before:

            (1)      (i)      acquiring, owning, or holding land that is not open, mainly open, or undeveloped, personal property, or mixed property;

                  (ii)      clearing, improving, constructing, or rehabilitating the property; or

                  (iii)      transferring, leasing, mortgaging, or otherwise disposing of the property; or

            (2)      building housing on any land.

      (c)      A project that the Administration finances is subject to applicable zoning and building codes.

      (d)      (1)      This subsection applies notwithstanding any other provision of this subtitle or other State law.

            (2)      In exercising its functions and responsibilities, the Administration may sell or lease for a term not exceeding 99 years all or part of the real, mixed, or personal property constituting a community development project.

            (3)      A sale or lease under this section may be made:

                  (i)      without public bidding or public sale; and

                  (ii)      on terms and conditions that make housing in that development economically feasible for families of limited income.

            (4)      A sale or lease under this section shall conform with a plan for community development that the Secretary approves at a public hearing held after notice is published in at least one newspaper of general circulation in the political subdivision in which the development is located.

            (5)      The plan for community development presented at the hearing shall be in accordance with regulations that the Secretary adopts, requiring:

                  (i)      a description of the property;

                  (ii)      a statement of the identity of the proposed purchaser or lessee and the proposed use or reuse of the property;

                  (iii)      the price or rental to be paid by the purchaser or lessee; and

                  (iv)      the conditions of the sale or lease that ensure that the community development purposes of this subtitle will be carried out.

      (e)      In carrying out this subtitle, the Administration shall comply with local laws applicable to the community development project.

      (f)      (1)      In carrying out this subtitle, the Administration shall:

                  (i)      work closely, consult, and cooperate with local elected officials;

                  (ii)      give primary consideration to local needs and desires;

                  (iii)      foster local initiative and participation in community development activities; and

                  (iv)      consider local and regional goals and policies as expressed in urban renewal, community renewal, and local comprehensive land use plans and regional plans.

            (2)      Wherever possible, the Administration shall carry out community development projects together with and through the use of:

                  (i)      private enterprise;

                  (ii)      limited dividend corporations;

                  (iii)      local development agencies; and

                  (iv)      local development entities.