(1) The governing body of the municipality or such public officer or public body as it may designate is authorized to prepare a workable program. This program may include an official plan of action as it exists from time to time for effectively dealing with the problem of urban slums and blighted, deteriorated, or deteriorating areas within the community and for the establishment and preservation of a well-planned community with well-organized residential neighborhoods of decent homes and suitable living environment for adequate family life, for utilizing appropriate private and public resources to eliminate, and prevent the development or spread of, slums and urban blight and deterioration, to encourage needed urban rehabilitation, to provide for the redevelopment and renewal of blighted, deteriorated, or slum areas, or to undertake such of these activities or other feasible activities as may be suitably employed to achieve the objectives of such a program.
(2) The powers conferred by this section shall be in addition and supplemental to the powers conferred by any other law.