When a building is designated as a business incubation center by a public agency, its community board shall accept applications from any person desiring to start or expand a small business and to locate that business within the business incubation center. The community board shall develop an application form requiring at least the following information:

(1) The type of business that the applicant wishes to start or expand;

(2) An estimate of the number of employees the applicant will need in order to start or expand the business and a two-year projection of future employment;

(3) The skill and educational level of the employees that the applicant plans to hire;

(4) The ability of the applicant to start or operate a successful business;

(5) A general statement as to why the applicant wishes to be accepted into the business incubation center;

(6) A signed statement by the applicant that he or she understands and accepts the obligations placed upon him or her under section 72-1711 if accepted into the business incubation center; and

(7) A designation by the applicant of information that the applicant considers to be of a proprietary nature and that he or she does not want to be made public.