Sec. 8. (a) When a state agency notifies the group of the selection of a grantee agency and a contract format, the group shall do the following:
(1) Prepare a contract with the grantee agency.
(2) Present the contract to the affected state agency for execution.
(b) A contract prepared by the group under subsection (a) is subject to approval under IC 4-13-2-14.3.