(A) The Board of Aldermen may, from time to time, on its own motion or by petition, amend, supplement, change, modify or repeal by ordinance the boundaries of districts or regulations or restrictions herein established. Any proposed amendments shall first be submitted to the Planning and Zoning Commission for its recommendations and report. The Planning and Zoning Commission shall hold a public hearing in relation thereto, giving at least 15 days’ notice of the time and place of such hearing, which notice shall first be published in a newspaper having a general circulation in the city. When the hearing before the Planning and Zoning Commission is completed, the proceeding shall be continued for further hearing before the Board of Aldermen and be heard before the Board acts upon the report of the Planning and Zoning Commission.

(B) In the event of a negative report by the Planning and Zoning Commission or if a protest against such proposed amendment shall be presented in writing to the City Clerk, duly signed and acknowledged by the owners of 10% or more, either of the areas of the land (exclusive of streets, places and alleys) included within such proposed amendment, or within an area, determined by lines parallel to and 185 feet distance from the boundaries of the district proposed to be changed, such amendment, supplement, change, modification or repeal shall not become effective, except by the favorable vote of three-fourths of all the Board of Aldermen.