(a) After consulting with the Secretary, the Board shall adopt standards to award financial assistance.
(b) The standards shall authorize the award of financial assistance to:
(1) support the development and use of best practices in the incubation process;
(2) provide strategic planning, needs assessments, and feasibility studies; or
(3) help acquire or improve new or expanded space or improve existing space for an incubator, including providing or helping another with:
(i) acquisition of land;
(ii) acquisition of architectural or engineering services;
(iii) payment of administrative costs;
(iv) development or upgrading of communications infrastructure;
(v) acquisition of furnishings or equipment; or
(vi) acquisition of other items associated with tenant build-out.