261—174.3 (15) Qualifying wage threshold requirements. For each financial assistance and tax credit program administered by the department, there are minimum wage threshold requirements that must be met in order for the project to be considered to receive an award. The qualifying wage threshold varies from program to program and according to funding source. This rule describes the qualifying wage thresholds, by funding source and by program, which a project must meet.
	 174.3(1) Qualifying wage threshold requirement—projects receiving IVF(FES) assistance. Awards funded during the time period beginning July 1, 2003, but before June 16, 2004, from IVF(FES) shall meet the wage requirements in effect at that time as reflected in the contract between the department and the business. Awards funded after June 16, 2004, using IVF(FES) moneys shall meet the qualifying wage thresholds for the programs through which funding is sought.
	 174.3(2) Qualifying wage threshold requirement—projects receiving IVF (2005) assistance. In order to receive financial assistance from the IVF (2005), applicants shall demonstrate that the annual wage, including benefits, of project jobs is at least 130 percent of the average county wage. If an applicant is applying for IVF (2005) moneys, the department will first review the application to ensure that the IVF (2005) wage requirement is met. The department will then review the application for compliance with the requirements of the department program from which financial assistance is to be provided.
	 174.3(3) Qualifying wage threshold requirement—projects funded by program funds (“old money”). Prior to July 1, 2003, direct financial assistance programs administered by the department were funded through state appropriations. After the creation of IVF(FES) and IVF (2005), these programs no longer received separate state appropriations. These programs were funded with IVF(FES) and IVF (2005) moneys. Moneys remaining, recaptured or repaid to these program funds remain available for awarding to projects. The department will review an application for compliance with the requirements of the department program from which financial assistance is to be provided.
	 174.3(4) Qualifying wage threshold requirement—projects receiving EDSA funds. EDSA is the job creation component of the federal CDBG program. The department will review an application for compliance with the federal CDBG EDSA requirements.
	 174.3(5) Qualifying wage thresholds, by funding source and by program.
	  a.   	 IVF (2005). Projects that are funded with IVF (2005) moneys through the following programs shall meet the qualifying wage threshold listed below:

Funding Source:
IVF (2005)	Qualifying Wage
Threshold Requirement	Can benefits value be added to the hourly wage to meet the qualifying wage threshold?	
CEBA:	Small business gap financing component	130% of average county wage	Yes	
 	New business opportunities and new product development components	130% of average county wage	Yes	
 	Venture project component	130% of average county wage	Yes	
 	Modernization project component	130% of average county wage	Yes	
VAAPFAP	 	130% of average county wage	Yes	
PIAP	 	130% of average county wage	Yes	
EVA	 	130% of average county wage	Yes	
	  b.   	 IVF(FES) and program funds. Projects that are funded with IVF(FES) through the following programs or directly from available program fund moneys shall meet the qualifying wage thresholds listed below:

Funding Source:
IVF(FES) or Program Funds	Qualifying Wage
Threshold Requirement	Can benefits value be added to the hourly wage to meet the qualifying wage threshold?	
CEBA:	Small business gap financing component	100% of average county wage or average regional wage, whichever is lower
130% for awards over $500,000	No	
 	New business opportunities and new product development components	100% of average county wage or average regional wage, whichever is lower
130% for awards over $500,000	No	
 	Venture project component	100% of average county wage or average regional wage, whichever is lower	No	
 	Modernization project component	100% of average county wage or average regional wage, whichever is lower
130% for awards over $500,000	No	
VAAPFAP	 	No statutory requirement	Not applicable	
PIAP	 	No statutory requirement	Not applicable	
EVA	 	No statutory requirement	Not applicable	
	  c.   	 EDSA. Projects that are funded with EDSA moneys shall meet the following wage threshold:

Program Source:
CDBG	Wage Threshold Requirement	Can benefits value be added to the hourly wage to meet the wage threshold?	
EDSA	100% of average county wage	No	
	  d.   	 EZ and HQJC. Tax credit program projects shall meet the following wage thresholds:

Tax Credit Programs	Wage Threshold Requirement	Can benefits value be added to the hourly wage to meet the wage threshold?	
EZ	90% of average county wage or average regional wage, whichever is lower	No	
HQJC	130% of average county wage
More benefits are available if the wage rate is 160% or higher	Yes