A municipal housing authority, to be known as the Long Beach Housing Authority, is hereby created and established for the accomplishment of any or all of the purposes specified in article eighteen of the constitution of the state of New York. It shall constitute a body corporate and politic and consist of five members who shall be qualified electors of the city of Long Beach. It shall have the powers and duties now or hereafter conferred by this chapter upon municipal housing authorities. It shall be organized in the manner prescribed by and subject to the provisions of this chapter, and the authority, its members, officers and employees and its operations and activities shall in all respects be governed by the provisions of this chapter. The city council of the city of Long Beach may appropriate and pay over to the authority out of general city funds and as a city charge a sum not to exceed ten thousand dollars for purposes of organization, administration, investigation, planning and report.