(a) If a municipality adopts a moratorium on property development, the moratorium is justified by demonstrating a need to prevent a shortage of essential public facilities. The municipality must issue written findings based on reasonably available information.
(b) The written findings must include a summary of:
(1) evidence demonstrating the extent of need beyond the estimated capacity of existing essential public facilities that is expected to result from new property development, including identifying:
(A) any essential public facilities currently operating near, at, or beyond capacity;
(B) the portion of that capacity committed to the development subject to the moratorium; and
(C) the impact fee revenue allocated to address the facility need; and
(2) evidence demonstrating that the moratorium is reasonably limited to:
(A) areas of the municipality where a shortage of essential public facilities would otherwise occur; and
(B) property that has not been approved for development because of the insufficiency of existing essential public facilities.