Sec. 14. A housing authority is a municipal corporation and has all the powers necessary or convenient for carrying out the purposes of this chapter. However, an authority may not initiate any project under this chapter without:
(1) approval of the fiscal body that established the authority; and
(2) approval, by ordinance, of a municipality, if:
(A) the project is to be initiated by a county housing authority;
(B) the project is within five (5) miles of the corporate boundaries of the municipality; and
(C) the jurisdiction of the county housing authority has been expanded to include the jurisdiction of the municipality under section 41 of this chapter.