A moratorium adopted under § 212.135 or 212.1351 expires on the 120th day after the date the moratorium is adopted unless the municipality extends the moratorium by:
(1) holding a public hearing on the proposed extension of the moratorium; and
(2) adopting written findings that:
(A) identify the problem requiring the need for extending the moratorium;
(B) describe the reasonable progress made to alleviate the problem; and
(C) specify a definite duration for the renewal period of the moratorium.