The Authority shall review a proposal submitted under Regulation .03 of this chapter for designation of a heritage area as a recognized heritage area. The Authority may designate a heritage area as a recognized heritage area only if the Authority finds that: The proposal for designation includes all information and requirements of Regulation .03B of this chapter; The area proposed for designation satisfies the definition of a heritage area set forth in Regulation .02B(5) of this chapter; The area includes at least one or more: Historic districts either listed, or determined by the Director of the Maryland Historical Trust to be eligible for listing, in the Maryland Register of Historic Properties; or Natural or recreational resources determined by the Secretary of Natural Resources to be of Statewide significance; and Public assistance for the heritage area is reasonably expected to produce: Additional private investments; Job creation; and Tourism revenues. The Authority shall disapprove a proposal for designation of a heritage area as a recognized heritage area if the proposal does not satisfy the criteria in §B of this regulation. If a proposal for designation of a heritage area as a recognized heritage area satisfies the criteria in §B of this regulation, the Authority may: Approve the proposal, which shall constitute designation of the heritage area as a recognized heritage area; or Approve the proposal subject to one or more modifications as determined necessary by the Authority, which shall constitute designation of the heritage area as a recognized heritage area, as modified by the Authority. In determining whether to approval or disapprove a proposal under this regulation, the Authority may consider as factors: The number of certified heritage areas in existence at the time of the determination; and Financial resources available or anticipated to be available. Upon reaching a determination under either §C or D of this regulation, the Authority shall promptly send written notice of the determination to each local jurisdiction that submitted the proposal and to the heritage area management entity identified in the proposal. The boundaries of a recognized heritage area approved under this regulation shall be: The boundaries of the heritage area as identified in the geographic information system file submitted with the proposal for designation as a recognized heritage area, as approved or approved with modifications by the Authority; Posted on the website of the Maryland Historical Trust in the form of a Uniform Resource Locator (URL) to the geographic information system file; and Published in the Maryland Register by the Authority in the form of a Uniform Resource Locator (URL) to the geographic information system file. A local jurisdiction within, or the heritage area management entity for, a recognized heritage area may apply for a grant from the Authority under COMAR 14.29.03 to assist with the development of a management plan for the heritage area.