(1) The Authority may turn, divert, discontinue the public use of, or permanently close, any public street vested in it or any part thereof.
(2) Whenever the Authority discontinue the public use of or permanently closes any public street vested in it or any part thereof, it shall, as far as practicable, provide some other reasonable means of access to be substituted in lieu of the use, by those entitled, of the street or part thereof, and pay a reasonable amount to every person who is entitled, otherwise than as a mere member of the public to use such street or part as a means of access and has suffered damage from such discontinuance or closing.
(3) In determining the amount payable to any person under sub-section (2), the Authority shall make allowance for any benefit accruing to him from the construction, provision or improvement of any other public street at or about the same time that the public street or part thereof, on account of which the amount is paid, is discontinued or closed.
(4) When any public street vested in the Authority is permanently closed under sub-section (1), the Authority may sell or lease so much of the same as is no longer required.