There shall be a moratorium meaning no approvals or construction of any new or converted condominiums, townhouses or cooperatives until further decision of the Township Committee of the Township of Hillside. This subsection is enacted in view of a presently proposed Master Plan for the Township of Hillside which has not yet been considered, amended or adopted for the Township of Hillside. This moratorium shall extend until the Township Committee considers the issue of construction or conversion of condominiums, townhouses or cooperatives and enacts some procedures based upon consideration of present circumstances and the proposed Master Plan.