(a) The board will establish deadlines for application
submittals. The executive administrator will provide the prioritization
of those applications to the board for approval as soon thereafter
as practicable. To be considered for prioritization, an applicant
must provide 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. The executive administrator
will develop and provide an abridged application to gather information
necessary for prioritization. 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 application that the executive administrator
has determined has adequate information for prioritization purposes
and prior to each board meeting at which applications may be considered
for prioritization, the executive administrator shall:
(1) prioritize the applications by the criteria identified
in §363.1304 of this title (relating to Prioritization Criteria);
and
(2) provide to the board a prioritized list of all
complete 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
from SWIFT and SWIRFT for new applications by category, establish
the structure of financing and the terms of any subsidy, and will
consider applications according to §363.1304 of this title. The
board reserves the right to limit the amount of funding available
to an individual entity.
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