Threshold Requirements. Each project shall meet the following threshold requirements: The application shall be complete, providing all of the items and information required in Regulations .04 and .05 of this chapter; The service or services proposed shall be consistent with the Program purpose and eligible under this chapter and any guidelines issued by the Program; The application shall identify the priority funding area in which the project will operate; and If the applicant was awarded an allocation of tax credits for a project during a previous State fiscal year, the applicant shall, in the discretion of the Program, have made substantial progress toward utilizing its previous award of tax credits and satisfying all other Program requirements for the previous project. Additional Project Review. In approving or disapproving a proposal, and in determining the maximum amount of contributions to an approved project that will be eligible for the Program tax credits, the Department shall consider: The need for the project in relation to the need for other projects proposed; The anticipated benefit to the priority funding area and the anticipated effect on the problem to be addressed; The ability of the applicant to complete the project in a timely and cost-effective manner; The capacity of the applicant to raise funds for the project, which may include any commitment from a business entity or an individual to make a contribution to the project; The readiness of the applicant to proceed with the project; Geographic distribution of projects; Proposed involvement of local residents or businesses, or both, in the planning or implementation, or both, of the project; Feasibility of the project, financially, in terms of staffing, and in other respects as determined by the Program; and Any other relevant factors. In reviewing applications, the Program may request data and assistance from other units of State government. Minimum and Maximum Amounts of Tax Credits. The Program may set guidelines for minimum and maximum amounts of tax credits per project for each round of applications. The sum of contributions eligible for tax credits for all projects approved for each State fiscal year may not exceed $3,500,000. Time Period for Using Tax Credits Allocated to a Project. The Program may establish a deadline for receiving contributions eligible for tax credits. If, by the Program deadline, the nonprofit organization has not received the maximum amount of contributions for the tax credits allocated to the project, then the remaining tax credits may be used in the discretion of the Secretary: By extending the deadline for that project; or For a reserve of tax credits to be allocated by the Secretary to projects approved by the Secretary, all in the Secretary's discretion, with or without review by the evaluation committee described in §F of this regulation. Selection. The Secretary shall designate members of the committee to evaluate project applications. The committee shall evaluate the project proposals based on the guidelines described above and make recommendations to the Secretary for project approval and allocation amounts. The Secretary shall make all final decisions on project approval and the tax credit allocations. A decision concerning project approval and tax credit allocation is not a contested case within the meaning of the Administrative Procedure Act or COMAR 05.01.01.02. The Secretary may delegate to the Assistant Secretary for Neighborhood Revitalization or the Deputy Secretary of the Department the authority to issue the notification letter and execute any agreement required by the Department. In approving or disapproving a proposal, and in determining the maximum amount of contributions to an approved project that will be eligible for tax credits, the Secretary may give preference to a proposal that benefits a sustainable community or a neighborhood conservation area. Notification. Each nonprofit applicant shall receive notice in writing whether or not the project was approved. An approval notice also shall state the maximum amount of contributions to the approved project eligible for the tax credits under the Program. Notice of approval may be accompanied by an agreement to be entered into by the nonprofit applicant, as required by the Program. Approval is not effective until the nonprofit applicant has signed and returned the notice and any agreement required by the Program.