Section 123. Acquisition of lands for future use

Notwithstanding any
  provision of law, an authority or a government may acquire by  purchase,
  gift, condemnation or otherwise, such property as it may deem ultimately
  necessary or proper to effectuate the purposes of this chapter or any of
  them  although temporarily not required for such purposes, provided that
  the  local  legislative  body  and  the  planning  commission,  if  any,
  authorize  such  acquisition.  The acquisition and use of property under
  this  section  shall  be  subject  to  the  planning  and  zoning  laws,
  ordinances  and  regulations applicable to the municipality in which the
  property is situated. Proceedings to  condemn  such  property  shall  be
  brought  by  the  authority or government in the same manner as for real
  property required for a project.