The Department shall: coordinate with local housing authorities, county governments, municipal corporations, and county boards of education to ensure access to other financial resources, including senior debt products; develop new resources in support of statewide housing production; solicit applicants for the Program; and subject to subsection (b) of this section, select three projects to receive assistance from the Program each in a different jurisdiction. The Department may select fewer than three projects to fund if there is an insufficient number of eligible applicants.