The Village Board may, from time to time, on its own motion, on recommendation of the Planning Board or on petition of one or more property owners in the Village, amend, supplement, modify or repeal the regulations and provisions of this chapter after public notice and hearing. When such public hearing is held pursuant to a petition, and the Village Board does not thereafter vote to amend the chapter as sought by the petition then the Village Board will not be required to hold another public hearing on the same or substantially the same matter within one year after the date of the first such hearing.

Every such proposed amendment or change, whether initiated by the Village Board or by petition, may be referred to the Planning Board for report thereon before the public hearing provided for in Subsection A above. In recommending the adoption of any such proposed amendment, the Planning Board shall state its reasons for such recommendation, describing any condition that it believes makes the amendment advisable and specifically setting forth the manner in which, in its opinion, the amendment would be in harmony with the Comprehensive Plan of land use for the Village and would be in furtherance of the purposes set forth in §§ 128-1 through 128-4 of the chapter. In recommending the rejection or revision of any proposed amendment, the Planning Board shall similarly state its reasons. Failure of the Planning Board to make a report on any proposed amendment within 45 days of the date of referral shall be deemed to be an approval thereof, unless such proceedings have theretofore been terminated.