; (bb) the present ability of the applicant to commence a project within a minimum amount of time; and (cc) the location for the veteran’s business center site proposed by the applicant. (C) Application for renewal of grant A private nonprofit organization that receives a grant under this subsection may submit an application for a renewal of the grant at such time, in such manner, and containing such information as the Administrator may require. (D) Notification Not later than 60 days after the date of the deadline to submit applications for each fiscal year, the Administrator shall approve or deny any application submitted under this subsection and notify the applicant for each such application. (5) Award of grants (A) In general Subject to the availability of appropriations, the Administrator shall make a grant for the Federal share of the cost of activities described in the application to each applicant approved under this subsection. (B) Amount A grant under this subsection shall be for not less than $225,000 and not more than $375,000. (C) Duration (i) In general A grant under this subsection shall be for a period of 1 year. (ii) Renewal A grant under this subsection may be renewed for not more than 4 additional 1-year periods. (D) Priority In allocating funds made available for grants under this subsection, the Administrator shall give priority to applicants for a renewal of a grant over new applicants. (6) Program examination (A) In general The Administration shall— (i) develop and implement an annual programmatic and financial examination of each veteran’s business outreach center established pursuant to this subsection, pursuant to which each veteran's business outreach center shall provide to the Administration— (I) an itemized cost breakdown of actual expenditures for costs incurred during the preceding year, breaking out Boots to Business costs from all other programmatic costs; and (II) a programmatic breakdown of veteran’s business outreach center curriculum, program offerings, and outcomes