(1) Recommendations for funding of individual applications must be based upon evaluation of the following considerations:

(a) Quality of the project:

(i) whether the technical, artistic and administrative abilities and experience of the benefitting organization, its staff and/or volunteers makes probable the completion and implementation of the project within the grant period;

(ii) whether the project is creative or innovative, practical or beneficial, and whether the project may stimulate other projects.

(b) Cultural impact of the project:

(i) whether the project may contribute to or improve the cultural life or development of the community, county, region or state;

(ii) whether the project addresses an identified need within the proposed area, and establishes, maintains or augments an activity or service;

(iii) whether the project has stated goals that are within the resource capability of the benefitting organization and whether there is a reasonable likelihood that the goals will be attained;

(iv) whether the project has benefit, availability and accessibility to the public.

(c) Cost factors of the project:

(i) the need for project, operational, capital or endowment development support;

(ii) the cost-effectiveness of the project;

(iii) the relative level of local support as demonstrated by cash match from local sources or in-kind goods and services;

(iv) the level of cost-sharing as reflected in the mix of earned income, private contributions, governmental support and interest income;

(v) the potential of the project to stimulate other sources of funding or to become self-supporting;

(vi) the probability of accomplishing the project within budget and with available resources.