Renewal determinations.

Within 120 days after receiving a complete application under Section 13-1-3-14 of this Code, the corporate authorities shall issue a written determination granting or denying the renewal application in whole or in part, applying the following standards, and setting forth the reasons for the determination.

(A) 

The financial condition and technical ability of the applicant;

(B) 

The legal qualifications of the applicant;

(C) 

The continuing capacity of the public ways to accommodate the applicant's existing facilities;

(D) 

The applicant's compliance with the requirements of this Chapter 13 and the license agreement;

(E) 

Applicable federal, state and local telecommunications laws, rules and policies; and

(F) 

Such other factors as may demonstrate that the continued grant to use the public ways will serve the community interest.