The duties, powers, authorizations and responsibilities set forth in this article may be carried out by and through the housing authority of the county or any successor thereto wherever and to the extent they are within the powers granted by law to the said authority. Subject to the foregoing, the county is hereby authorized to provide for the creation of a nonprofit corporation or corporations pursuant to state law, or assist a private nonprofit corporate body or bodies, to carry out opportunity housing projects, which corporation or corporations may be authorized to assist the county in exercising its duties, powers, authorizations and responsibilities set forth in this article, including but not limited to the sale of real property upon such terms and conditions and at such prices as may be determined to make economically feasible the development of opportunity housing. The articles of incorporation and bylaws of any such nonprofit corporation or corporations created under county direction pursuant to state law, other than corporations created by special act of the general assembly, shall be submitted by the county executive to the county council and shall be subject to approval, disapproval or modification and approval by resolution of the council after appropriate public hearing. An additional public hearing or hearings shall not be required if either the articles of incorporation or the bylaws are modified by the council after the initial public hearing. Any articles of incorporation submitted hereunder shall include, but not be limited to, provisions specifying the composition and membership of the board of directors, the method of their appointment and methods of financing the operations and programs of the corporation. (1974 L.M.C., ch. 41, § 1.)