(b)

1. (1) Program grants may be awarded, pending availability of funds, at the discretion of the Director of the Arkansas Economic Development Commission.
2. (2) Depending on the volume of grant applications and the discretion of the director, applicants may not receive the entire amount of grant funding requested.
3. (3) An eligible applicant may only request funds for one (1) eligible site per funding cycle.

4. (4) The amount of the grant award shall be determined by the commission based upon:

   1. (A) Costs of eligible activities in a proposed project;
   2. (B) Availability of funding; and
   3. (C) Overall demand for funds.