An ordinance or resolution enacted under § 1–1102 of this subtitle shall provide for: eligibility requirements for participation in the program, including eligibility requirements for: energy and water efficiency projects, renewable energy devices, environmental remediation projects, and resiliency projects; and property and property owners; and loan terms and conditions, including a provision that requires that a loan be repaid over a term not to exceed the useful life of the project as determined by the program. Eligibility requirements under subsection (a) of this section shall include a requirement that the county or municipality give due regard to the property owner’s ability to repay a loan provided under the program, in a manner substantially similar to that required for a mortgage loan under §§ 12–127, 12–311, 12–409.1, 12–925, and 12–1029 of the Commercial Law Article.