Public comments for: Proposed Taxicab Broker Rules

Comments

Comment:
I would like to suggest adding the following rules and modify suggested rules in order to address corruption with leasing taxi medallions to Agents. §63-16 Leasing of Medallions from Medallions Owners paragraph 4) If the lease allows the Agent to change the lease payment amount, the agreement must include the following: Modify: (i) The agent must provide the owner with no less than 45 days’ notice before changing the lease payment amount and 60 days’ notice before changing the lease payment during the summer. Add: (iiii) The Agent must pay back to TLC Taxi Improvement Fund full amount of $14,000 and $4000 for each year he got for WAV taxicab from Taxi Improvement Fund. I would like to suggest that rule (i) be modified because it takes more than one month for a new Agent to buy a new cab. A medallion owner will need to make a loan payment to the credit union and he would not be able to make payment, because it takes longer time for his new Agent to buy new cab. Until he put a new cab on the street with a medallion, the new agent will not pay lease payment, so a medallion owner lose money and must pay to credit unions out of his own pockets. Also, it is very difficult to find a new agent who will lease taxi medallions during summer. Because taxi drivers go on vacation during summer time, a new taxi Agent will not be able to put a cab with a new taxi medallion on the street. So, Agents who reduce the Lease payment during summer, must provide a medallion owner with a notice no less than 60 days before changing a lease payment. I suggested to add (iiii) to paragraph 4) because Agent takes advantage over medallion owners, by collecting $14,000 for WAV taxicab form TIF on owners WAV medallion, and then reduces a lease payment for medallion owner, which happened with my lease payment on taxi medallions after just 4 months of leasing my taxi medallions. So, my agent has collected $14,000 and then has reduced my lease payment because he knew that no other agents would take my taxi medallions without $14,000, which he already collected on my WAV taxicab. I also believe that a taxi agent should not be able to reduce a lease payment. Right now, taxi Agents force medallion owners to sign a taxi lease with an Agent, allowing him to reduce the lease payment because medallion owners are in despair of not be able to pay interest to the bank and lose his medallion. The lease payment cannot be reduced. If the medallion owner signs a taxi lease with Agent that says that lease payment can be reduced it should be rewritten as not allowed by TLC.
Supporting Document:
Agency: TLC