(1) Unless otherwise required by law, information submitted by an applicant will be treated as confidential by the board, its staff and technical reviewers, except the following:

(a) name and address of applicant;

(b) description of proposed project;

(c) amount of grant or loan requested;

(d) any other information in which the demand of individual privacy does not clearly exceed the merits of public disclosure;

(e) any information in which the demand of individual privacy clearly exceeds the merits of public disclosure but the applicant has expressly waived his right to privacy; and

(f) the applicant must designate confidential those portions of the information submitted to the board that it considers to be confidential.   The designation by the applicant, however, will not guarantee the confidentiality of the information.

(2) The board shall maintain public files on each completed application received which will contain the following information:

(a) items (1) (a) through (e) of this rule;

(b) all written documents received or prepared concerning items (1) (a) through (e) of this rule;

(c) the executive director's recommendation to the board regarding items (1) (a) through (e) and his recommendation for approval or denial of the application; and

(d) a brief statement of the board's action regarding the application, including the board's approval or denial of the application, the terms and interest rate (in the case of a loan) of financing, and the repayment schedule and record (in the case of a loan) .

(3) The board shall open all meetings when the discussion addresses issues enumerated in (1) (a) through (e) or when the demand of individual privacy does not exceed the merits of public disclosure, or when the applicant has expressly waived his right to privacy.

(4) This policy is based on the board's findings except for the information described in items (1) (a) through (e) .   The demands of individual privacy which may include personal, financial and proprietary information contained in applications and supporting documentation submitted to the board, exceeded the merits of public disclosure.