1. A municipal wetlands restoration project shall be undertaken pursuant to this title only with the approval of the commissioner, and pursuant to an approved contract for state assistance.

2. In reviewing applications for municipal wetland restoration projects, the commissioner shall give due consideration to:

a. the urgency of need to restore such wetlands;

b. the potential ecological value of such wetlands;

c. the potential value of such wetlands for flood and storm water control and pollution and sediment filtering;

d. the level of biological productivity which will be achieved by restoration thereof.