In approving applications for loans under this subtitle, the authority shall give preference to projects which:

1. 1. have a higher level of funding from the funding partners;
2. 2. have the most direct impact on local economic development and the creation or retention of employment opportunities;
3. 3. are most likely to stimulate other private sector investments; and
4. 4. are least speculative, and provide greatest assurance of repayment of the loan.