PUBLIC TESTIMONY
Testimony by Suresh, Taxi Driver on Medallion Debt and Flex Fare Issues
2:54:47
·
82 sec
Suresh, a taxi driver since 1994, testifies about the financial burden of owning a taxi medallion purchased for $865,000 during the Bloomberg administration. He highlights issues with obtaining loans due to the bankruptcy of Signature Bank and the reluctance of new lenders to provide financing.
- Requests the council to intervene and force lenders to provide loans as part of the Medallion Relief Program (MRP) initiated by Chuck Schumer and the TLC
- Expresses concern about the high cost ($90,000) of wheelchair-accessible vehicles (WAV)
- Advocates for the return to meter fares for taxi drivers instead of the current flex fare system used by apps
Suresh
2:54:47
Hi.
2:54:48
Good afternoon.
2:54:49
My name is Suresh, and I'm 30 years driving yellow cap since 1994.
2:54:57
We have bought auction in Bloomberg administration, the wow medallion for $865,000.
2:55:06
Now we have a lot of burden.
2:55:08
We have not given for giving the loan from the bank and lender because Signature Bank is out of business, bankrupt, and their lender, new lender, OSK, they don't give us.
2:55:19
So I request to console my second question knows this whole story.
2:55:25
Chuck Schumer did this MRP with the TLC, but they must be forced to do this loan.
2:55:34
And we will be otherwise, we'll be out of business.
2:55:38
We have this wow car wow vehicle.
2:55:43
Which is cost $90,000.
2:55:46
So we don't want to share.
2:55:49
We don't share any money from the city, whatever, but it's cost too much increase now.
2:55:56
We want the Flaxosphere, But what app pays to us, if they want to charge some money, they charge the customer, we want our meter of fear, what we use to have regularly.