Blog – Page 2 – Spectrum Enterprises

2025 COLA Update: Impact on Affordable Housing Compliance

The Social Security Administration (SSA) recently announced the Cost-of-Living Adjustment (COLA) for 2025 at 2.5%, the lowest adjustment since 2020 (1.3%). The average COLA increase over the past...

2024 Income Limits

HUD has announced the 2024 income limits for the MTSP housing programs effective April 1, 2024..

Minimum wage increases for 2024

State 2023 Hourly Minimum Wage 2024 Hourly Minimum Wage Effective January 1, 2024 Alaska $10.85 $11.73 Arizona $13.85 $14.35 California $15.50 $16.00 Colorado $13.65 $14.42 Connecticut $15.00 $15.69...

HOTMA News for Private Consulting Clients

While HUD is allowing the implementation of the regulations to be pushed until 7-1-25, Spectrum Compliance has made the decision to implement the HOTMA changes on 1-1-24. This allows for a year of trial and error before all states mandate the changes. We are in contact with all state agencies concerning when they expect to implement HOTMA, and many have reported it will be 1-1-24.

2022 HOME Limits

May 25, 2022

HUD has published the 2022 HOME limits and they are effective June 15, 2022.

2022 Income Limits

Apr 20, 2022

HUD has announced the 2022 income limits for the MTSP housing programs effective April 18, 2022.

Pre Approval Report Distribution Update

Mar 25, 2022

Beginning Friday April 1, 2022, all Spectrum Compliance Applicant File Pre-Approval reports will be issued through our ShareFile portal.

US Just Had The Largest Round of Minimum Wage Increases Ever

Jan 10, 2022

A total of 81 states and cities will be raising their minimum wage in 2022. 44 cities will be raising their minimum wage to above $15.00 per hour. Most of these increases took place the 1st of the new year.

5.9% Social Security COLA for 2022

Oct 13, 2021

The Social Security Administration has announced the Cost-of-Living Adjustment (COLA) for 2022. Social Security recipients will get a cost of living increase of 5.9%, the largest increase since 1982.

Extended Unemployment Benefits End On Labor Day

Sep 8, 2021

Starting Monday September 6th, an estimated 8.9 million people will lose all unemployment benefits.

CDC Issues New Eviction Moratorium Order

Aug 4, 2021

On Tuesday August 3, 2021 the CDC Director signed a new eviction moratorium order, temporarily halting residential evictions for nonpayment of rent in counties with heightened levels of community transmission of COVID-19. The order is set to expire on October 3, 2021.

Advance Child Tax Credit Payments

Jul 6, 2021

Beginning July 2021, the IRS will start issuing the Advance Child Tax Credit payments.

Supreme Court Leaves CDC Eviction Moratorium in Place

Jul 1, 2021

Written by Deb Bechetti The Supreme Court on Tuesday rejected a plea by landlords to end the CDC moratorium on evicting millions of tenant who aren’t paying rent due to the pandemic. Last week, President Biden extended the moratorium through the end of...