By ordinance adopted by vote of the governing body thereof, any city, town, or county may establish historic districts and may make appropriations for the purpose of carrying out the provisions of this subchapter, subject to the following provisions:
(1)
(A)
(i) An historic district commission, established as provided in § 14-172-206, shall make an investigation and report on the historic significance of the buildings, structures, features, sites, or surroundings included in any such proposed historic district and shall transmit copies of its report to the Arkansas Historic Preservation Program, a division of the Division of Arkansas Heritage, to the planning commission of the municipality or county, if any, and in the absence of such commission, to the governing body of the municipality or county for its consideration and recommendation.
(ii) Each such body or individual shall give its recommendation to the historic district commission within sixty (60) days from the date of receipt of the report.
(B)
(i) Recommendations shall be read in full at the public hearing to be held by the commission as specified in this section.
(ii) Failure to make recommendations within sixty (60) days after the date of receipt shall be taken as approval of the report of the commission;
(2)
(A) The commission shall hold a public hearing on the establishment of a proposed historic district after giving notice of the hearing by publication in a newspaper of general circulation in the municipality or county once a week for three (3) consecutive weeks, the first such publication to be at least twenty (20) days prior to the public hearing.
(B) The notice shall include the time and place of the hearing, specify the purpose, and describe the boundaries of the proposed historic district;
(3)
(A) The commission shall submit a final report with its recommendations and a draft of a proposed ordinance to the governing body of the municipality or county within sixty (60) days after the public hearing.
(B) The report shall contain the following:
(i) A complete description of the area or areas to be included in the historic district. Any single historic district may embrace noncontiguous lands;
(ii) A map showing the exact boundaries of the area to be included within the proposed district;
(iii) A proposed ordinance designed to implement the provisions of this subchapter; and
(iv) Such other matters as the commission may deem necessary and advisable;
(4) The governing body of the municipality or county, after reviewing the report of the commission, shall take one (1) of the following steps:
(A) Accept the report of the commission and enact an ordinance to carry out the provisions of this subchapter;
(B) Return the report to the commission, with such amendments and revisions thereto as it may deem advisable, for consideration by the commission and a further report to the governing body of the municipality or county within ninety (90) days of such return; or
(C) Reject the report of the commission, stating its reasons therefor, and discharge the commission; and
(5) The commission established under the provisions of this subchapter, by following the procedures set out in subdivisions (2) to (4), inclusive, of this section, may, from time to time, suggest proposed amendments to any ordinance adopted under this section or suggest additional ordinances to be adopted under this section.