The Community Development Director or designee shall cause notice of the public hearing to be published at least once in a newspaper of general circulation, published and circulated in the City, or, if there is none, it shall be posted in at least five public places within the City, not less than 10 calendar days before the date of said hearing. The Community Development Director or designee shall also cause said notice to be mailed, postage prepaid, not less than 10 calendar days before the date of said hearing to owners of real property within a minimum radius of 600 feet of the exterior boundaries of the property which is the subject of the application, or within the minimum radius that is required such that a minimum of 40 property owners will be notified, whichever is greater. However, public notice for a hearing for conditional use permit approval to authorize the reuse or redevelopment of any existing warehouse or industrial building with a gross floor area larger than 20,000 feet in the Heavy Commercial/Light Manufacturing (M-1) Zone and the Gateway Specific Plan Industrial District (I District) shall be mailed to all property owners within 1,000 feet of the exterior boundaries of the property which is the subject of the application. The names and addresses of property owners for mailing the notice of public hearing shall be taken from the last equalized assessment roll, or, alternatively, from such other records as contain more recent information in the opinion of the Planning Commission.