A. The council, after public hearing, shall adopt regulations to provide for: (1)     procedures and forms for making grants under the New Mexico Community Assistance Act;

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(2)     documentation to be provided by the proposed grantee to justify the need for the community assistance program;

(3)     procedures for review, evaluation and approval of grants;

(4)     procedures for reporting by the grantee of programmatic, organizational and financial information necessary to the review, evaluation and approval of a proposed or existing grant to be funded or which is funded by the council;

(5)     a guide for the evaluation of the ability and competence of a proposed or existing grantee to efficiently and adequately provide for the completion of the project;

(6)     development and phase-in of a common application form and funding cycle insofar as practical for all state and federal grant or loan programs for local community infrastructure development administered or coordinated by the division;

(7)     procedures for the coordination and handling of applications for all state and federal grant or loan programs administered and coordinated by the division;

(8)     procedures to control the number of applications from each political subdivision; and

(9)     such other requirements deemed necessary by the council to ensure that the state receives the services for which the legislature appropriated money.

B. Regulations adopted by the council shall become effective when filed according to the provisions of the State Rules Act [N.M. Stat. Ann. Chapter 14, Article 4].