The Rent Control Board shall determine the number of apartments located within the Town of Hammonton, the number of apartments occupied or vacant, the number of apartments then under construction and the population of the town at its most recent census, and it shall certify the same to the Town Clerk/Administrator not more than 120 days from and after the effective date of this chapter. Annually thereafter, the Rent Control Board shall make such further investigation as may be required to determine the number of apartments then in the Town of Hammonton, the number of apartments which are then occupied or vacant, the number of apartments which have then been newly constructed within the previous year and the number then under construction, the population of the Town of Hammonton at its then most recent census and the number of apartments then, per capita, in the Town of Hammonton. The findings of such investigation shall be filed with the Town Clerk/Administrator. When the Board shall determine that the number of apartments available for rental in the Town of Hammonton, per capita, has increased by 100% over the number of apartments, per capita, determined to be in existence as of 120 days after the effective date of this chapter, the Board shall certify to the governing body that a rental housing emergency no longer exists.