(2) The council, in consultation with the dean, shall establish criteria and measurements for Oregon State University to use in determining which investments in professional forestry education to make from any subaccount created as described in ORS 350.520.

(3) The criteria and measurements established under this section shall include, but need not be limited to, standards designed to:

(a) Respond to the professional forestry education needs of forestland owners and managers and forest products manufacturers in this state;

(b) Meet the professional forestry education needs of employees working in the forest and wood products industry cluster in this state by increasing faculty and academic program capacity at the university;

(c) Create additional opportunities for residents of this state to pursue professional education in forest engineering, forest management, forest operations management, renewable material and wood products innovation and other fields important to the advancement of the forest and wood products industry cluster in this state;

(d) Maximize the leverage of any moneys that the university allocates under ORS 350.520;

(e) Give priority to allocations for which financial resources of forest products manufacturers in this state, or of other persons interested in professional forestry education in this state, are available to augment the allocations; and

(f) Ensure that any moneys the university allocates under ORS 350.520 are used to:

(A) Give priority to addressing those educational needs of the forest and wood products industry cluster that are the most evident and urgent;

(B) Produce the greatest amount of educational benefit for the least short-term and long-term costs to this state;

(C) Avoid duplication of existing public or private resources; and

(D) Leverage existing and future private resources for the public benefit.

(4) The council shall review the performance of any investments made in professional forestry education as described in ORS 350.520. The performance reviews shall be designed to identify possible improvements in the criteria and measurements established by the council, identify possible improvements in the process for allocating moneys under ORS 350.520 and determine the effectiveness of the allocations and investments in addressing the objectives described in subsection (3) of this section. The council shall report the results of the performance reviews to the dean and the president. [Formerly 351.679]