The applicant shall complete a preapplication form supplied by the Department which shall include: Type and general description of the stormwater pollution control practice to be used; Project location, existing and proposed land use, ownership, drainage area, topography, and soil characteristics; Approximate cost, based on accepted engineering judgment; Approximate project implementation schedule; Location of any water supply in immediate vicinity; Adjacent watercourse and structures. The applicant shall forward the preauthorization form to the Department within 60 days of the adoption of this regulation. Within 45 days after the receipt of the preapplication form, the Department shall notify the applicant as to whether its preapplication is approved or disapproved. Departmental approval of the preapplication form assures placement on the priority list, although not necessarily within the fundable range. If the preapplication is approved, the applicant will be notified of the project's position on the priority list and the availability of funding.