Under 65 ILL. COMP. STAT. 5/11-11-1 (2004), corporate municipal authorities are granted broad powers to redevelop and revitalize “any blighted or slum area or any conservation area” that is a “detriment to public safety, health or morals.” Municipal authorities in communities with more than 500,000 residents may appoint a “Conservation Board” or “Department of Urban Renewal” to investigate and report on the revitalization needs in a designated “conservation area.” Those entities may also draft a “conservation plan” that addresses, inter alia, (a) the purchase, improvement, or razing of existing land, buildings, and infrastructure, (b) potential zoning or rezoning requirements, (c) financing and incentive measures, (d) project phasing, and (e) “any and all other steps needed to carry out the plan.” Municipal authorities may then adopt and execute redevelopment plans as deemed necessary to carry out urban renewal objectives. 315 ILL. COMP. STAT. 25/5 (2004); see also 315 ILL. COMP. STAT. 25/1 et seq. (2004) (Urban Community Conservation Act); 315 ILL. COMP. STAT. 30/1 et seq. (2004) (Urban Renewal Consolidation Act of 1961).