(1) After filing a petition pursuant to section 72-1705, the community board, in cooperation with the public agency, shall conduct and complete within one hundred eighty calendar days a center feasibility study. The study shall include, but not be limited to, all of the following factors:

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(a) Necessary lease, purchase, renovation, or construction costs;

(b) Estimated rental costs for tenants;

(c) Estimated utility costs;

(d) Estimated wage or salary rates of potential employees of the center which may include a building manager, receptionist, typist, and security guard;

(e) Proposed operating budget for the center;

(f) Prospects of attracting suitable businesses to the center; and

(g) The ability of the community to provide necessary support for the center, including, but not limited to, technical assistance and training, assistance in attracting employees, assistance in relocating a business, assistance in business startup, and library facilities.

(2) Within thirty calendar days after completion of the feasibility study, the public agency, based upon the study, the criteria set forth in subsection (1) of this section, and any plans for future use of the building by the public agency, shall notify the community board of its decision. If the public agency does not designate the building as a business incubation center, the public agency shall set forth the reasons for its decision in its notification letter to the community board.