Hearing before the Planning Board. The Planning Board shall hold a public hearing and shall make a report of its findings and recommendations on amendments within 60 days or within 45 days for planned unit development zoning after a complete application has been filed with the Planning Board, provided that such time limit may be extended upon the mutual agreement of the parties having an interest in the proceedings. Failure of the Planning Board to so report within the stipulated time period, without the aforesaid agreement, shall be deemed to be disapproval by the Planning Board. If the Planning Board deems it advisable, it may recommend that the area under consideration for amendment be enlarged or diminished or be reclassified to a district other than the district originally initiated. Upon the consent of the Planning Board, any request may be withdrawn upon the written application of a majority of all persons who signed such petition. The Town Board or Planning Board may by resolution abandon any proceedings for an amendment initiated by its own resolution of intention, provided that such abandonment may be made only when such proceedings are before such body for consideration, and provided that any hearing of which public notice has been given shall be held.