In determining such distribution the director shall attempt to make available to local housing agencies and the commission the maximum amount of housing financing allocable pursuant to the code and the act. The director shall specifically consider:

(1) The amount of housing to be made available by each applicant;

(2) The population within the jurisdiction of each applicant;

(3) Coordination with other applicable federal and state housing programs;

(4) The likelihood of implementing the proposed financing during that year; and

(5) Consistency with the plan of the commission, if available.