The Department shall adopt regulations to carry out the Program, including: application and review procedures; procedures for adequate public notice of assistance available under the Program; and selection standards that the Panel shall consider in reviewing applications for grants. Selection standards under subsection (a)(3) of this section include: the relative merits of the project or activities within identified statewide needs; the extent to which the appropriate political subdivision contributes to support the project; the potential for the project to stimulate increased tourism, museum attendance, or museum self-sufficiency; and other relevant factors, such as the extent to which the project helps achieve equal geographic distribution of grant assistance throughout the State.