The corporation may contract with:
(1) A federal agency, a state or its agencies and political subdivisions *, the commission, a local transportation authority, a corporation, partnership or individual regarding funding, promotion, planning, designing, constructing, improving, maintaining or operating a project or to assist in such activity;
(2) The commission to transfer the project to the commission free of cost or encumbrance on such terms set forth by contract; and
(3) A person, a corporation, a local transportation authority, the commission, the state, or a federal agency for the purpose of jointly paying the cost of a project.