A community-based development organization applying for a core administrative and operating grant pursuant to this act must submit a proposal to the Department of Community Affairs that includes:
(1) A map and narrative description of the service areas for the community-based development organization.
(2) A copy of the documents creating the community-based development organization.
(3) A listing of the membership of the board of the community-based development organization, including individual members’ terms of office and the number of low-income residents on the board.
(4) The organization’s annual revitalization plan that describes the expenditure of the funds, including goals, objectives, and expected results, and has a clear relationship to the local municipality’s comprehensive plan.
(5) Other supporting information that may be required by the Department of Community Affairs to determine the organization’s capacity and productivity.
(6) A description of the location, financing plan, and potential impact of the business enterprises on residential, commercial, or industrial development, that shows a clear relationship to the organization’s annual revitalization plan and demonstrates how the proposed expenditures are directly related to the scope of work for the proposed projects in the annual revitalization plan.