40-58-15. Exercise of urban renewal project powers

40-58-15. Exercise of urban renewal project powers 1. A municipality may itself exercise its urban renewal project powers, as defined by this section, or may, if the governing body by resolution determines the action to be in the public interest, elect to have those powers exercised by the urban renewal agency created by section 40-58-16 or by the housing authority, if one exists or is subsequently established in the community. In the event the governing body makes that determination, the urban renewal agency or the housing authority, as the case may be, is vested with all of the urban renewal project powers in the same manner as though those powers were conferred on the agency or authority instead of the municipality. However, an urban renewal agency or housing authority may not exercise any rights, powers, functions, and duties of a municipality under this chapter which relate to the development of industrial or commercial property under section