(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.

Source Note: The provisions of this §363.404 adopted to be effective April 5, 2020, 45 TexReg 2196