(a) At least one hundred twenty (120) days before the application deadline, a district may request and be granted by the Division of Public School Academic Facilities and Transportation a review conference that shall be held within seventy-five (75) days after the date of request.

(b) The district may be advised through the review conference process by an architectural and engineering firm if the school district pays the cost for the advice from the architectural and engineering firm.

(c) The review conference shall consider the following:

(1) That the proposed project is academic;

(2) The space calculation to be applied to the project if approved;

(3) The preliminary wealth index of the district, subject to change when the annual update is calculated, that will be applied to the partnership project if approved;

(4) The qualified project cost, subject to update no later than March 1 of the odd year, that will be applied to the partnership project if approved;

(5) A projected amount of state funding based on the preliminary wealth index and the qualified project cost, updated no later than March 1 of the odd year, to allow a school district projection of local funding share required; and

(6) Whether or not the proposed application meets all of the technical requirements for partnership applications as set out in the application guidelines and rules provided by the division before each partnership application cycle.

(d) The division shall make a written record of the findings of the review conference and provide a copy of the written record to the school district within five (5) working days after the written record is finalized.