Before any zoning amendment is approved affecting any land within 300 feet of the centerline of a proposed new highway or highway for which changes are proposed as described in the certification to local officials by the Director of Transportation, or within a radius of 500 feet from the point of intersection of said centerline with any public road of highway, the Commission shall give notice, by registered or certified mail to the Director of Transportation. The Commission may proceed as required by law, however, Council shall not approve the amendment for 120 days from the date the notice is received by the Director of Transportation. If the Director of Transportation notifies the Village that acquisition at this time is not in the public interest or upon the expiration of the 120 day period or any extension thereof agreed upon by the Director of Transportation and the property owner, Council shall proceed as required by law. (Ord. 312. Passed 9-26-77.)