The Council may, from time to time, either of its own action or on petition of interested property owners or on recommendation from the Commission, after public notice and hearing as provided by law, amend, supplement, change, modify, or repeal the boundaries or regulations herein or subsequently established. If such proposed amendment, supplement, change, modification, or repeal is petitioned for by interested property owners, said petition shall be signed by the owners of fifty percent (50%) of the area of all the real estate included within the boundaries of said tract of real estate described in said petition. Whenever any amendment, supplement, change, modification, or repeal of this chapter is proposed, such proposed amendment, supplement, change, modification, or repeal shall first be submitted to the Commission which shall within thirty (30) days after the date of the receipt of such proposed amendment, supplement, change, modification, or repeal, report its recommendation to the Council either approving or disapproving such proposed amendment, supplement, change, modification, or repeal, unless an extension of time is requested and granted to the Commission. If the report of the Commission on such proposed amendment, supplement, change, modification, or repeal is unfavorable, or if a protest against such proposed amendment, supplement, change, modification, or repeal is signed by the owners of 20% or more either of the area of the lots included in such proposed change, or of those within 200 feet of the boundary of such proposed change exclusive of the width of intervening streets and alleys, such amendment shall not become effective except by the favorable vote of at least four-fifths of all members of the Council. The provisions of the statute relative to public hearings and official notice shall apply to all changes or amendments. Public hearing cannot be held until at least seven (7) days have elapsed after publication of the notice. If any area is hereafter transferred to another district by a change in district boundaries by an amendment, supplement, change, modification, or appeal, as above provided, the provisions of this chapter shall apply in regard to buildings or premises existing at the time of such amendment in such transferred area. It shall be the duty of the Council to act upon such proposed amendment, supplement, change, modification, or repeal within sixty (60) days after receiving the report from the Commission. It shall be the responsibility of the applicant requesting a zoning change to supply the City with names and addresses of any and all interested persons. This list shall include, but is not limited to, all owners of property within 200 feet of the proposed change.