With respect to property held or owned by the authority, the authority may: grant or acquire a license, an easement, or an option; set, charge, and collect rents, fees, and charges for use of the property; pay taxes or special assessments due; take any action, provide any notice, or institute any proceeding required to clear or quiet title in order to establish ownership by and vest title to property in the authority; abate violations of the local and State building, fire, health, and related codes; and hold, manage, maintain, operate, repair, lease as lessor, secure, prevent the waste or deterioration of, or demolish the property and take all other actions necessary to preserve the value of the property. An authority shall be made a party to, and shall defend any action or proceeding concerning, claims against property held by the authority.