Applications for financial assistance shall be accepted in one or more competitive rounds to be announced by the Department annually. An application submitted to the Department shall: Be on standard forms prescribed by the Department; Be submitted by an applicant that meets the requirements of Regulation .03A of this chapter; Be for a project that is located within a sustainable community; State the amount and type of financial assistance requested; Provide a comprehensive description of the applicant and project including: The public purpose of the project and the revitalization needs of the community that will be served; The compatibility of the project with local development plans or redevelopment plans; A projected timeline for implementation of the project; The ability of the applicant to carry out the proposed project in accordance with the projected timeline; Other public and private resources available for implementing the project; and The social and economic opportunities created by the project; Provide a budget, in a form acceptable to the Department, that at a minimum shows anticipated project costs and expenses, anticipated sources of project revenue, and identification of the revenues that can be used to repay the financial assistance provided by the Program if provided as a loan; Propose benchmarks for evaluating whether the proposed project results in a desired outcome such as community stabilization or reversing the social, economic, and physical decline of the sustainable community in which the project is located; Describe any public input the applicant has received on the proposed project, including the nature and extent of the public support for or in opposition to the proposed project; Demonstrate that, upon completion, the project will be in compliance with all applicable zoning requirements and standards as well as the applicable building code of the local jurisdiction in which the project is located; Demonstrate the ability to gain site control of the project through ownership, leasehold interest, contract, option, or other written agreement satisfactory to the Department; Provide evidence that the applicant has matching funds available for the project in the amounts required by Housing and Community Development Article, §4-508(g)(2), Annotated Code of Maryland, or in the competitive application round announcement; Describe whether historic properties or districts will be impacted and how the applicant will comply with the requirements of State Finance and Procurement Article, §§5A-325—5A-326, Annotated Code of Maryland, and Financial Institutions Article, §13-1112(b), Annotated Code of Maryland; and Include other information or documentation the Department may require. An application for financial assistance may be submitted to fund one or more projects. A recipient of financial assistance may file one or more applications in accordance with schedules established by the Department.