(a) The designated agency shall review an application for a certificate of public advantage in accordance with the standard prescribed by Section 314A.056(a)(1).
(b) The designated agency shall grant or deny the application not later than the 120th day after the date of the filing of the application. The designated agency's decision must:
(1) be in writing;
(2) specify the basis for the decision; and
(3) provide a copy of the decision to the applicants on the date of the decision.