(a)      Any county or municipality of the State may participate in federal programs of lower-income housing assistance and for this purpose, may: (1) enter into and perform contracts or agreements with the United States or federal agencies; (2) accept and expend assistance payments made with respect to existing, newly constructed, or substantially rehabilitated housing; (3) act as a public housing agency within the meaning of federal law; and (4) do all things necessary or convenient to its participation.

      (b)      The powers conferred by this section are in addition to all other powers of counties and municipalities and may be exercised directly by the county or municipality or as otherwise provided by its governing body, whether or not the county or municipality has established a housing authority under the Housing Authorities Law. This section does not affect any powers conferred on housing authorities or on counties or municipalities by Housing Authorities Law or the housing cooperation law.