The Department shall issue a written approval to the provider permitting withdrawal of deposits from escrow for use by the provider when the Department determines that the provider has met the following requirements:
A. Construction of the proposed project has been completed as evidenced by a certificate of substantial completion;
B. A certificate of occupancy, or its equivalent, has been issued by the appropriate local jurisdiction;
C. An initial certificate of registration has been issued for any new units; and
D. Appropriate licenses or certificates required by MDH, MHCC, and the Department have been issued.