Upon submission of a written application to the Town Clerk by the property owner seeking a hardship waiver to the one-hundred-acre threshold, together with the fee set forth in the fee schedule adopted by the Town Board, the Town Board shall, within 30 days of receipt of such application, schedule a public hearing on the application and request a report and recommendation from the Planning Board. The Planning Board shall provide its report and recommendation to the Town Board within 30 days of receipt of the Town Board's request, although the failure of the Planning Board to do so shall not prevent the Town Board from rendering its final decision on the application. Notice of the public hearing shall be given at least five days prior to the hearing by publication in the official newspaper of the Town. The Town Board shall, within 62 days of the close of the public hearing, render its decision either granting the application, with or without conditions, or denying it.