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   1.   The Commission may conduct studies for the identification and designation of historic districts and sites meeting the definitions established by this chapter. The Commission may proceed at its own initiative or upon a petition from any person, group or association. The Commission shall maintain records of all studies and inventories for public use.
   2.   The Commission may make a recommendation to the State Bureau of Historic Preservation for the listing of a historic district or site in the National Register of Historic Places and may conduct a public hearing thereon.
   3.   The Commission may investigate and recommend to the Council the adoption of ordinances designating historic sites and historic districts if they qualify as defined herein.
   4.   In addition to those duties and powers specified above, the Commission may, with Council approval,
      A.   Accept unconditional gifts and donations of real and personal property, including money, for the purpose of historic preservation.
      B.   Acquire, by purchase, bequest or donation, fee and lesser interests in historic properties, including properties adjacent to or associated with historic properties.
      C.   Preserve, restore, maintain and operate historic properties under the ownership or control of the Commission.
      D.   Lease, sell, and otherwise transfer or dispose of historic properties subject to rights of public access and other covenants and in a manner that will preserve the property.
      E.   Contract with State or federal government or other organizations.
      F.   Cooperate with federal, State and local governments in the pursuance of the objectives of historic preservation.
      G.   Provide information for the purpose of historic preservation to the Council.
      H.   Promote and conduct an educational and interpretive program on historic properties within its jurisdiction.