The governing body of a municipality, or such public officer or public body as it may designate, is hereby authorized to prepare a workable program, which may include an official plan of action as it exists from time to time for effectively dealing with the problem of blighted, deteriorated or deteriorating areas within the community and for the establishment and preservation of a well planned community with well organized neighborhoods, for utilizing appropriate private and public resources to eliminate and to prevent the development or spread of such areas, to encourage needed rehabilitation, to provide for the redevelopment of blighted areas, and to establish and preserve a well planned community.