Proposal: The SFMTA is considering increasing the cost of taxi medallions.
The permits needed to operate taxis will cost more to purchase and will generate extra income for The City under a new plan by San Francisco’s transportation agency.
Holders of taxi medallions can operate cabs or lease out their vehicles to other drivers while still collecting a slice of the profits. Until 2010, the only way to obtain a medallion was to keep your name on a waiting list, but the permit could take decades to arrive.
For the past two years, cabdrivers have been able to skip ahead of a waiting list and purchase a taxi medallion for $250,000 as part of a pilot program. The San Francisco Municipal Transportation Agency, which regulates cabs, also took a 15 percent transfer fee for medallion sales.
Now, the SFMTA wants to increase the cost of medallion sales to $300,000 and collect a 50 percent transfer fee. The minimum age for selling medallions would also be reduced, from 65 to 60. The proposal is projected to generate $14 million for the agency over the next two years…
“The medallions are a public asset,” said Rose. “They should be managed in a way that benefits the public.”… (more)
Taxi Advisory Councilor Dan Hinds, Taxi Services Investigator Mike Harris, Executive Secretary Mau Anu Flieder, TAC Chair Chris Sweis, Councilor John Lazar and Councilor Tim Lapp waiting to see if enough councilors would show up for a quorum. Only Councilor Carl Macmurdo made it before Sweis ended the meeting at 1:15 PM. Councilors Tone Lee and Athan Rebelos came as we were leaving. Eight Councilors are needed for a quorum.
Councilors Ruach Graffis, John Han, Tara Housman, Richard Hybels, David Khan, Barry Korengold and William Mounsey (half of the TAC’s 14 members) have resigned or are resigning over the SFMTA’s new Medallion Deform Plan…