Sec. 12. The board has the following powers:
(1) To accept, analyze, approve, and deny applications under this chapter.
(2) To contract with experts for advice and counsel.
(3) To employ staff to assist in carrying out this chapter, including the following:
(A) Providing assistance to applicants that wish to apply for a grant or loan from the fund.
(B) Analyzing proposals.
(C) Working with experts engaged by the board.
(D) Preparing reports and recommendations for the board.