(1) A Seasonal Community may expend funds to develop a Comprehensive Housing Needs Assessment, up to but no more frequently than twice per calendar year, which shall at a minimum examine the following:

1. (a) The Seasonal Community's existing demographics and housing stock, along with a projection of future population and housing needs;
2. (b) The capacity of existing infrastructure to accommodate current population and anticipated future growth in the Seasonal Community; and
3. (c) Housing development constraints and limitations on its current and future needs, including but not limited to availability and capacity of water and sewer infrastructure, availability of developable land, and environmental factors limiting housing development.