; and (B) use accounting, audit, and fiscal procedures conforming to generally accepted accounting standards. (b) Application (1) In general To be eligible to receive a capitalization grant under this section, an eligible entity shall submit to the Administrator an application that includes the following: (A) Project proposals comprised of local government hazard mitigation projects, on the condition that the entity provides public notice not less than 6 weeks prior to the submission of an application. (B) An assessment of recurring major disaster vulnerabilities impacting the entity that demonstrates an escalating risk to life and property. (C) A description of how the hazard mitigation plan of the entity has or has not taken the vulnerabilities described in paragraph (2) into account. (D) A description about how the projects described in paragraph (1) could conform with the hazard mitigation plans of the entity and local governments. (E) A proposal of the systematic and regional approach to achieve resilience in a vulnerable area, including impacts to river basins, river corridors, watersheds, estuaries, bays, coastal regions, micro-basins, micro-watersheds, ecosystems, and areas at risk of earthquakes, tsunamis, droughts, and wildfires, including the wildland-urban interface. (2) Technical assistance The Administrator shall provide technical assistance to eligible entities for applications under this section. (c) Entity loan fund (1) Establishment of fund An entity that receives a capitalization grant under this section shall establish an entity loan fund that complies with the requirements of this subsection. (2) Fund management Except as provided in paragraph (3), an entity loan funds shall be administered by the agency responsible for emergency management for such entity and shall include only— (A) funds provided by a capitalization grant under this section; (B) repayments of loans under this section to the entity loan fund