An urban renewal agency under § 14-169-709 and any housing authority established under the Housing Authorities Act, §§ 14-169-201 — 14-169-205, 14-169-207 — 14-169-225, 14-169-227, 14-169-229 — 14-169-240, and 14-169-804, may carry out any work or undertaking to be called a “redevelopment project”, to:
(1) Acquire blighted areas, which are defined as areas, including slum areas, with buildings or improvements which by reason of dilapidation, obsolescence, overcrowding, faulty arrangement or design, lack of ventilation, light and sanitary facilities, excessive land coverage, deleterious land use or obsolete layout, or any combination of these or other factors are detrimental to the safety, health, morals, or welfare of the community;
(2) Acquire other real property for the purpose of removing, preventing, or reducing blight, blighting factors, or the causes of blight;
(3) Acquire real property where the acquisition of the area by the authority is necessary to carry out a redevelopment plan;
(4) Clear any areas acquired and install, construct, or reconstruct streets, utilities, and site improvements essential to the preparation of sites for uses in accordance with the redevelopment plan;
(5) Sell land so acquired for uses in accordance with the redevelopment plan; or
(6) Accomplish a combination of these projects to carry out a redevelopment plan.