; (ii) an investment-grade rating from at least 2 rating agencies on debt senior to the Federal credit instrument; and (iii) a rating from at least 2 rating agencies on the Federal credit instrument. (B) Small projects In order for a small project to be eligible for assistance under the BIFIA program, such project shall satisfy alternative creditworthiness standards that shall be established by the Assistant Secretary under section 6 for purposes of this paragraph. (3) Application A State, local government, agency or instrumentality of a State or local government, public authority, public-private partnership, or other legal entity undertaking a project and authorized by the Assistant Secretary shall submit a project application that is acceptable to the Assistant Secretary. (4) Eligible project cost parameters for infrastructure projects Eligible project costs shall be reasonably anticipated to equal or exceed $2,000,000 in the case of a project or program of projects— (A) in which the applicant is a local government, an instrumentality of a local government, or a public authority (other than a public authority that is the Federal Government or a State government, or an instrumentality thereof); (B) located on a facility owned by a local government; or (C) for which the Assistant Secretary determines that a local government is substantially involved in the development of the project. (5) Dedicated revenue sources The applicable Federal credit instrument shall be repayable, in whole or in part, from— (A) amounts charged to— (i) subscribers of broadband service for such service; or (ii) subscribers of any related service provided over the same infrastructure for such related service; (B) user fees; (C) payments owing to the obligor under a public-private partnership