(a) The local governing body, under rules or procedures it determines, shall hold a public hearing on any urban renewal project.
(b) A notice of the hearing shall be published in a newspaper having a general circulation in the area of operation of the municipality for two (2) successive weeks, with the last publication thereof to be at least five (5) days prior to the hearing. The notice shall:
(i) Describe the time, date, place and purpose of the hearing;
(ii) Generally identify the urban renewal area covered by the plan; and (iii) Outline the general scope of the urban renewal project under consideration.