§ 503-b. Transfer of projects. Notwithstanding any provision of this
article, or of any general, special or local law or charter to the
contrary, a municipality may, upon the establishment of a municipal
urban renewal agency pursuant to the provisions of article fifteen-A of
this chapter, convey, assign, grant or otherwise transfer all of its
right, title and interest in any urban renewal program, or part thereof,
and any right, title and interest in or to any real or personal
property, contract, claim or other interest acquired or held by it in
connection with such program, or part thereof, to such agency, with or
without consideration, as it may determine.