Whenever the owners of 50% or more of the street frontage in any district, or specified part thereof, shall present to the Town Board a petition duly signed and acknowledged, in form approved for deeds, requesting an amendment, supplement, change, modification or repeal of the regulations prescribed, or a change in the boundaries shown on the Zoning Map, including said district or specified part thereof, it shall be the duty of the Town Board to hold a public hearing in the manner prescribed above.