In addition to the specific powers granted under this title, the Administration has the powers granted by this section. The Administration may sue and be sued in its own name. The Administration may adopt rules and regulations to carry out the provisions of this title. If necessary or useful in rendering transit service or railroad service or incidental activities, the Administration may: Construct, acquire, own, operate, maintain, and control any interest in any property, whether by contract, purchase, condemnation, lease as lessor or lessee, license, gift, mortgage, or otherwise; and If the property is no longer required for the purposes of the Administration, sell, convey, or otherwise dispose of it. The Administration may apply for and receive grants, gifts, payments, loans, advances, and other funds, appropriations, properties, and services from the federal government, this State, any of their agencies or political subdivisions, or any other public or private person and may enter into agreements for them and for any studies, plans, demonstrations, or projects. The Administration may contract with this State or any of its agencies or political subdivisions for providing transit facilities and transit services, including service in any county contiguous to the District, and for any other purposes incidental to the establishment, financing, and operation of the regional transportation system. The Administration may enter into and manage contracts with railroad companies to provide passenger and freight railroad services. The Administration may contract with any public utility, railroad company, transportation company, or private carrier for the joint use of property or rights. The Administration may contract for planning, engineering, and technical services and may contract for or employ consultants, engineers, attorneys, and other professional, planning, engineering, and technical services. The Administration may make any contract necessary for or incidental to the performance of its duties and the exercise of its powers under this title. The Administration shall develop and coordinate policies and plans for the preservation, improvement, or provision of railroad facilities and railroad services. The Administration shall conduct project planning and preliminary engineering related to railroad facilities. The Administration shall supervise construction of State-owned or financed railroad facilities and related capital improvements performed under contract with the Administration. The Administration shall supervise the maintenance and rehabilitation of State-owned or financed railroad facilities and equipment. The Administration shall advise the Secretary on matters concerning compliance with § 8-639 of this article. The Administration shall monitor railroad passenger and freight services to assure maximum benefits to Maryland communities and business. Subject to the limitations imposed by this title, the Administration may exercise all powers reasonably necessary to the declared objects and purposes of this title.