(a) The department may provide, within available appropriations, program assistance for a wastewater treatment project to an applicant which:

1. (1) is a business engaged in food processing;
2. (2) employs less than 500 workers or had gross annual sales of less than $10 million during the last fiscal year; and
3. (3) which owns the building to be improved or has a lease or management agreement for such building.

(b) In order to receive program assistance, an applicant must demonstrate that its proposed wastewater treatment project:

1. (1) will result in energy cost savings equal to the cost of the project within a period of not less than one year, nor more than 10 years; and
2. (2) was not commenced prior to the date of application to the department for program assistance.