Regardless of whether a county or municipality has established a housing authority under the Housing Authorities Law in Division II of the Housing and Community Development Article, the powers conferred by this section: are in addition to all other powers of a county or municipality; and may be exercised directly by a county or municipality or as otherwise provided by the governing body of the county or municipality. This section does not affect any powers conferred on a housing authority, county, or municipality by the Housing Authorities Law in Division II of the Housing and Community Development Article. A county or municipality may participate in federal lower–income housing assistance programs and for this purpose may: enter into contracts with the United States or a federal agency; accept and expend assistance payments related to existing, newly constructed, or substantially rehabilitated housing; act as a public housing agency as defined in federal law; and do all things necessary or convenient to participate in the program.