Any political subdivision may apply to the commission for designation as a cooperating local sponsor of a proposed Texas Water Development Board, United States Army Corps of Engineers, or Bureau of Reclamation of the United States Department of Interior water development project. More than one cooperating local sponsor may be designated by the commission for each project, but no application shall apply to more than one project. The commission may postpone consideration of the application until after the Texas Water Development Board determines whether the project is feasible, as required by the Texas Water Code, §12.051.