(a) To qualify for a grant or loan under this article, an applicant shall demonstrate:
(i) A commitment by the applicant community to adequately maintain the project facility for which the grant or loan is requested during a reasonable period of time;
(ii) A partnership or other working arrangement or agreement with other local governmental entities to ensure the viability of the project facility over a reasonable period of time;
(iii) The project facility is not otherwise provided in the community or that such a facility exists except that the financing of that facility has not been paid in full;
(iv) The project will not compete with existing governmental organizations or businesses;
(v) The relationship of the project facility to a community economic development plan or to the enhancement of quality of life in the community;
(vi) That all project costs will be funded at the time of receipt of a grant or loan under this article, with funding sources specified within the project application;
(vii) The availability of funds sufficient to maintain the project facility. The project application shall clearly identify maintenance funding sources sufficient to cover maintenance costs for a period of not less than four (4) years;
(viii) Any other criteria developed by the council consistent with the purposes of this article.