The planning commission shall also act as the zoning commission, which shall have the power to prepare and to recommend to the town board of trustees for adoption a zoning plan to regulate and restrict the height, number of stories and size of buildings and other structures, the percentage of lot that may be occupied, the size of yards, courts and other open spaces, the density of population, the location and use of buildings, structures and land for trade, industry, residence and other purposes. (1998 Code)