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"Threshold" <br /> Minimum Average Wage <br />For Public Assistance for Economic Development <br /> <br />Hourly wage: <br /> <br />$12.25 <br /> <br />Annual Wage: <br /> % Allocated to Shelter Costs: <br /> <br />$25,480.00 <br />30.00% <br /> <br />Annual Shelter Costs <br />Monthly Shelter Costs <br /> <br />$7,644 <br />$ 637 <br /> <br />Formula: <br /> Annual computation using the Fair Market Rent (FMR) for a three bedroom <br /> apartment. <br /> <br />The Threshold Minimum Average Hourly Wage for Public Assistance for Economic <br />Development activities would establish a base level hourly wage, which economic <br />development project (.projects in which the major public benefit would be job creation) <br />would have meet or exceed to qualify for local public financial assistance. <br /> <br />The use of the FMR's provides for an automatic annual adjustment based on localized <br />data. <br /> <br />92 <br /> <br /> <br />