Projects funded pursuant to this chapter shall be selected on a competitive basis, considering all of the following criteria:
(a) Water supply reliability improvement.
(b) Water quality and ecosystem benefits related to decreased reliance on diversions from the Delta or instream flows.
(c) Public health benefits from improved drinking water quality or supply.
(d) Cost-effectiveness.
(e) Energy efficiency and greenhouse gas emission impacts.
(f) Reasonable geographic allocation to eligible projects throughout the state, including both northern and southern California and coastal and inland regions.