(b) When State University of New York decides to carry out or approve an action which may have a significant effect on the environment, it shall make the following findings in a written decision that, consistent with social, economic and other essential considerations of State policy, from among the reasonable alternatives thereto, and the action to be carried out or approved:

1. (1) minimizes or avoids adverse environmental effects to the maximum extent possible, including the effects disclosed in the relevant environmental impact statement;
2. (2) to the maximum extent practicable, adverse environmental effects revealed in the environmental impact statement process are minimized or avoided by incorporating as conditions to the decision those mitigative measures which are identified as practicable;
3. (3) the action to be carried out or approved meets the requirements of this Part; and
4. (4) sets forth the facts and conclusions relied upon in the environmental impact statement supporting its decision, and indicating the social, economic and other factors and standards which formed the basis of its decision.