(a) The Division of Public School Academic Facilities and Transportation consideration and approval will be based on several factors, including but not limited to the following:

1. (1) School district compliance with appropriate academic facility standards, including but not limited to, appropriate space utilization;
2. (2) The amount of availability of insurance or other public or private emergency assistance;
3. (3) The academic facilities wealth index of the school district;
4. (4) The prudent and resourceful expenditure of state funds with regard to public school academic facilities;

5. (5)

   1. (A) Whether the facility is considered an academic facility.
   2. (B) For example, the division shall not consider for approval applications for the replacement or repair of administrative buildings, athletic fields, and other facilities not meeting the definition of an academic facility; and
6. (6) Whether the insurance as required in 6 CAR § 326-103(b)(6) is in force at the time of the catastrophic loss.