I know it's not my committee, but to offer advice, in our committee every time we put in time limits we never respect them, because things come up.
I would just as well vote for a motion like this, have the officials come forward, and then at that point have your steering committee meeting and decide where you want to go and how many meetings you want to have. The officials will provide you with more information at that point.
I'm in favour of the motion as is, and I would recommend that the committee go ahead with it.