The Department shall approve or disapprove an application as follows: The Department shall approve projects in the order in which applications are received, if funds are available, and if in the Department's judgment: The scientific and engineering objectives of the project are reasonable; The technological aspects of the project are appropriate and feasible; Project plans are adequate to fulfill one or more of the following grant program objectives: Water conservation, Water recirculation, Nutrient discharge reduction, Solids reduction, Thermal pollution abatement; The applicant agrees to pay at least 50 percent of the cost of an aquaculture project. The Department shall disapprove an application for any of the following reasons: The application is incomplete or does not comply with these regulations. Funds are not available. Any application disapproved for this reason may be held for consideration by the Department for the next fund cycle. The Department shall notify the applicant if an application is approved or disapproved. If the application is approved, the applicant shall be notified of the amount of the State grant for the project and the applicant's required matching amount.