(1) After the final submission deadline for applications, each board member will independently review each application prior to the board meeting.

(2) The board will hold an annual public grant and loan review meeting. Notice for the meeting will be in accordance with state law. The board may allow applicants, supporters or opponents to speak or provide for a presentation regarding applications during the meeting. The board will review and discuss applications and vote on disbursement of grant and loan monies during the public meeting.

(3) Priorities shall be given to applications as follows:

(a) Projects which are specifically related to airports and airport development will be given highest priority when evaluating applications for aeronautically related projects.

(b) Projects located at primary commercial service airports will be given lower priority than other eligible airport projects when evaluating applications for aeronautically related projects due to primary commercial service airports' higher priority in receiving aeronautics pavement preservation monies granted under a separate administrative grant program outlined in ARM 18.13.503.

(4) The board may offer applicants amounts higher or lower than the amounts requested in the applications. The board may offer grants in place of loans and vice versa.