The agency shall have the following duties and responsibilities:
(1) Administer this chapter.
(2) Promulgate any regulations necessary to implement and administer this chapter which include:
(i) Development of additional procedures or requirements for the submission of grant applications.
(ii) Development of procedures to verify adjusted loss.
(iii) Development of criteria for the determination of the amount of assistance to be given to a political subdivision or municipal authority.
(iv) Development of a methodology to prioritize projects based on the potential impact to the health and safety of the citizens of the affected community.