(a) The board will establish deadlines for application
submittals. The executive administrator will provide the prioritization
of those abridged applications to the board for approval as soon thereafter
as practicable. The executive administrator will develop and provide
an abridged application to gather information necessary for prioritization.
To be considered for prioritization, an applicant must provide in
the abridged application adequate information to establish that the
applicant qualifies for funding, to describe the project comprehensively,
and to establish the cost of the project, as well as any other information
requested by the executive administrator. If an applicant submits
an abridged application for prioritization purposes, the applicant
must submit a complete application to the board by the deadline established
by the executive administrator, or the project will lose its priority
ranking and the board may commit to other projects consistent with
the prioritization.
(b) For each abridged application that the executive
administrator has determined has adequate information and is administratively
complete for prioritization purposes and prior to each board meeting
at which abridged applications may be considered for prioritization,
the executive administrator shall:
(1) prioritize the applications by the criteria identified
in the Flood Intended Use Plan; and
(2) provide to the board a prioritized list of all
abridged applications as recommended by the executive administrator,
the amount of funds requested, and the priority of each application
received.
(c) The board will identify the amount of funds available
for new applications, establish the structure of financing and the
terms of any subsidy, and will consider applications in accordance
with this title.
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