(a) When the department decides to directly undertake an action or to fund or permit the action of an applicant, where such action has been the subject of an FEIS or Federal FEIS, the department shall prepare a record of decision. The record of decision shall contain the following:

1. (1) the decision of the department with respect to the proposed action;

2. (2) the following findings:

   1. (i) the requirements of section 8-0109 of the Environmental Conservation Law have been met;
   2. (ii) consistent with social, economic and other essential considerations, from among the reasonable alternatives thereto, the action to be directly undertaken, funded or permitted by the department is an alternative which minimizes or avoids adverse environmental effects to the maximum extent practicable, including the effects disclosed in the environmental impact statement;
   3. (iii) consistent with social, economic and other essential considerations, to the maximum extent practicable, adverse environmental effects revealed in the environmental impact statement process will be minimized or avoided; and
   4. (iv) if the action is in a coastal area, either that the action is consistent with applicable policies set forth in 19 NYCRR 600.5 or, if there is an approved local government waterfront revitalization program, that the action is consistent to the maximum extent practicable with that program; and
3. (3) a statement of the facts and conclusions relied upon in the FEIS or Federal FEIS supporting its decision, and indicating the social and economic and other factors and standards which formed the basis for the decision.