SECTION 9. Amendment of improvement plan

At any time after the establishment of a BID pursuant to the provisions of this chapter, the improvement plan upon which the establishment was based may, upon the recommendation of the BID board of directors, with the concurrence of the owners of at least fifty-one percent of the assessed valuation of all participating real property within the BID and fifty-one percent of the participating real property owners within the BID, be amended by the local municipal governing body after compliance with the procedures set forth in this section.

Amendments to the BID improvement plan which provide for additional improvements, program services or expenditures which affect more than twenty-five percent of the total project budget, incurring indebtedness, changes to the fee structure or management entity or changes to the district boundaries shall be subject to the approval of the local municipal governing body; provided, however, that said governing body, after a public hearing, determines that it is in the public interest to adopt said amendments.

The local municipal governing body shall give notice of the public hearing for amendment by publication of a notice, in at least one newspaper having general circulation in the district, specifying the time and the place of such hearing and the amendments to be considered. Such notice shall be published once at least thirty days prior to the date of such hearing.

The local municipal governing body may, within thirty days of the public hearing and, in its sole discretion, declare the amendments approved or disapproved. If approved, such amendments shall be effective upon the date of such approval.

Upon the adoption of any amendment to the district boundaries which increases the size of the district, any owner of property to be added to the district shall be notified of the new boundaries of the district in accordance with section four.