Contractual acquisition of land

Notwithstanding anything in section 16, where any land is needed for the purpose of a master plan or for performing any other duties or functions of the Authority, the Authority may enter into an agreement with any person for the acquisition by purchase, lease or exchange, or otherwise of his rights and interests in such land either wholly or in part, on payment of an amount proportionate to the loss or deprivation caused to the enjoyment of the land.