(1) The Council shall hold a public hearing on the proposed assessment ordinance. The public hearing shall be held no sooner than 30 days after mailing the notice. The Council may continue the hearing to a date and time certain. At the hearing, property owners supporting or objecting to being assessed, to the amount of the assessment or to the formation of the District, shall be entitled to be heard.

(2) Written objections shall be considered to have been received by the Council at the hearing if actually received at the hearing or if received by the City Manager prior to commencement of the hearing.

(3) If the Council at the hearing receives written objections to the formation of the District from owners of property upon which more than thirty-three percent (33%) of the total value of assessments are levied, then the Economic Improvement District shall not be established and assessments shall not be made.

(4) At the hearing, persons supporting or objecting to the proposed improvement and assessment shall be entitled to be heard. The Council shall consider any objections and may adopt, correct, modify, or revise the proposed assessment ordinance.

(5) Council may adopt an ordinance approving the assessment. Council may change the assessment if it finds that the assessment exceeds the benefit of the improvements. Notwithstanding the adoption of an ordinance to create the District, the scope of improvements may change to correspond to money collected.