Factors for determination by Board.

The Board shall consider any letter of intent forwarded from the Department and shall, in a motion or resolution adopted by the Board, determine the following: 1. Whether the obligor is a person or an entity eligible for financing pursuant to NRS 349.941 ; 2. Whether the obligor has reasonably demonstrated its ability to generate sufficient revenues from the proposed water project or other sources to amortize the requested loan and cost of financing; 3. Whether the benefits of the proposed water project, including social, economic and environmental benefits, are greater than any identifiable or known adverse costs or detriments; 4. Whether the proposed water project, when completed, would conform to all applicable provisions of law; and 5. Whether the proposed water project complies with the policies and criteria set forth in NAC 349.200 .