The Commission shall be convened by its Chairman, and shall make a study of the proposed amendment, supplement, change, modification or repeal and in its study and deliberations shall take into consideration and base its findings and recommendations in accordance with the City plan and regulations designed to lessen congestion in the streets; to secure safety from fire, panic and other dangers; to promote health and the general welfare; to provide adequate light and air; to prevent the overcrowding of land; to avoid undue concentration of population; to preserve features of historical significance; to facilitate the adequate provision of transportation, water, sewerage, schools, parks, and other public requirements with reasonable consideration, among other things, to the character of the district and its peculiar suitability for particular uses, and with a view to conserving the values of buildings and encouraging the most appropriate use of land throughout the municipality. It shall give consideration to regulating and restricting the height, number of stories and size of buildings and other structures, the percentage of lot that may be occupied, the size of yards, courts and other open spaces, and the location and use of buildings, structures and land within the City.