Whenever the Housing Director determines that the purposes of this chapter and Chapter 43 of this title, will be better accomplished by a revision of the area of operations of any authority or by the consolidation of 2 or more authorities or by the performance of the functions of an authority by DSHA, the Housing Director may after due notice to all authorities affected and subsequent to a public hearing thereon and with the concurrence of the local governing bodies, make such revision, consolidation or perform such functions; provided, that adequate provision shall be made by the Housing Director for the protection of such authority, its creditors, contracting parties and tenants.