Within 31 days following the receipt by the Town Board of the
report of the Planning Board, or its failure to act as above provided,
the Town Board shall conduct a public hearing. Within 62 days thereafter
the Town Board shall either refuse to approve the concept plan or
shall refer it back to the Planning Board for further consideration
of specified matters or shall, by local law duly adopted, approve
the concept plan, with or without modifications to be accepted by
the applicants as a condition of such approval, in accordance with
the standards for review established in this article, and amend the
District Zoning Map of the Town to designate the area included in
the approved plan as "Planned Unit Development District No.__; provided,
however, that if such plan is approved with modifications, the Zoning
Map shall not be amended until the applicant has filed with the Town
Clerk written consent to such modifications, and provided further
that if prior to the adoption of such amendment a protest against
such amendment is presented, duly signed and acknowledged, by the
owners of 20% or more of the area to be affected by the proposed amendment
or by the owners of 20% or more of the area of land immediately adjacent
thereto or immediately across a street therefrom, extending 100 feet
therefrom, such amendment shall not be adopted except by a three-fourths
vote of the Town Board. In the event that the Town Board shall fail
to act within the time limit herein specified, the concept plan shall
be deemed finally denied. In the event that the Town Board, prior
to the expiration of the time limit herein specified for its refusal
or adoption of the proposed amendment, requests further information
from the applicant, the time limit for its refusal or adoption or
adoption of the proposed amendment shall be extended to 31 days after
receipt of such information. The failure of the Town Board to act
within the time limit herein specified shall be deemed a refusal of
the application.