The Council may, from time to time, on its own motion or on petition, after public notice and hearing, amend, supplement or change the regulations and districts herein established and adopt rules and regulations for the purpose of interpreting and carrying this chapter into effect. When owners of more than 50% of the frontage within a district or part of district comprising not less than one block shall present to the Council a duly signed petition for the change, relocation or revision of said district or part of district, the Council shall act upon the petition within 60 days after the filing of the petition with the Borough Clerk. The petition shall be accompanied by a map showing the area for which the change of district is asked and all immediately abutting property and uses thereof and shall be accompanied by a statement setting forth the grounds or reasons for the proposed change. In case of protest against such proposed change, signed by owners of 20% or more of the area of the lots included in such proposed change or of those immediately adjacent in the rear thereof extending 100 feet therefrom or of those directly opposite thereto extending 100 feet from the street frontage of such opposite lots, such amendment shall not become effective except by the favorable vote of 3/4 of all members of the Municipal Council.