The Urban Renewal Authority shall have and exercise all of the powers and authority granted to it by West Virginia Code Article 16-18, or as may be conferred upon it by State or federal law; provided, that the Authority is subject to all the requirements, restrictions and limitations of West Virginia Code Article 16-18, or as the same may be hereafter imposed and to Section 145.02 of the Administrative Code. (1969 Code Sec. 2-25)