The board shall evaluate applications for loans or grants under this article based upon, but not limited to, the following factors in the proposal:
(a) The quantity of used tires that will be diverted from landfills.
(b) The estimated cost per tire in the recycling, processing, or conversion process.
(c) The availability of markets for the recycled tire product.
(d) The degree to which the processing program mitigates or avoids adverse environmental effects.