In addition to its authority under any other section of this chapter, a redevelopment agency may plan and undertake urban renewal projects within urban areas. As used in this chapter, an urban renewal project may include undertakings and activities for the elimination (and for the prevention of the development or spread) of slums, or other blighted, or deteriorated, or deteriorating areas and may involve any work or undertaking for the purpose constituting a redevelopment project or any rehabilitation or conservation work or a program of code enforcement, or any combination of such undertaking or work. For this purpose, “rehabilitation or conservation work” may include (1) carrying out plans for a program of voluntary or compulsory repair and rehabilitation of buildings or other improvements; (2) acquisition of real property and demolition, removal, or rehabilitation of buildings and improvements thereon where necessary to eliminate unhealthful, unsanitary, or unsafe conditions, lessen density, reduce traffic hazards, eliminate obsolete or other uses detrimental to the public welfare, or to otherwise remove or prevent the spread of blight or deterioration, or to provide land for needed public facilities; (3) installation, construction, or reconstruction of streets, utilities, parks, playgrounds, and other improvements necessary for carrying out the objectives of the urban renewal project; and (4) the disposition, for uses in accordance with the objectives of the urban renewal project of any property or part thereof acquired in the area of the project; provided that the disposition shall be in the manner prescribed in this chapter for the disposition of property in a redevelopment project area under part I.