; or (B) additional information or materials are needed to complete the application. (2) Approval or denial of application Not later than 60 days after the date of issuance of a written notice under paragraph (1), the Secretary shall provide to the applicant a written notice informing the applicant whether the Secretary has approved or disapproved the application. (h) Development-Phase activities Any Federal credit instrument secured under the CIFIA program may be used to finance up to 100 percent of the cost of development-phase activities, as described in section 999A(4)(A). 999C. Secured loans (a) Agreements (1) In general Subject to paragraphs (2) and (3), the Secretary may enter into agreements with one or more obligors to make secured loans, the proceeds of which shall be used— (A) to finance eligible project costs of any project selected under section 999B; (B) to refinance interim construction financing of eligible project costs of any project selected under section 999B; or (C) to refinance long-term project obligations or Federal credit instruments, if the refinancing provides additional funding capacity for the completion, enhancement, or expansion of any project that— (i) is selected under section 999B