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Medallion Relief Program

Rule status: Proposed

Agency: TLC

Comment by date: September 24, 2021

Rule Full Text
TLC-Proposed-Rules-re-Eligibility-for-Medallion-Relief-Program-Preliminarily-Certified-8.19.21.pdf

The Taxi and Limousine Commission (“TLC”) is proposing to amend its rules relating to the issuance of grants under the Medallion Relief Program (MRP). Among other things. Under the MRP, eligible medallion owners may apply for grants of up to $20,000 to be provided to their lenders as a down payment in restructuring their medallion-related loans. Additionally, medallion owners who demonstrate additional and specific hardship after restructuring their loans may be eligible for additional grants of up to $9,000 to help support initial loan payments.These proposed rules establish the eligibility criteria for applying for a grant through the MRP.

Attendees who need reasonable accommodation for a disablity such as a sign language translation should contact the agency by calling 1 (212) 676-1135 or emailing tlcrules@tlc.nyc.gov by September 22, 2021

Send comments by

  • Email: tlcrules@tlc.nyc.gov
  • Fax: 1 (212) 676-1102
  • Mail: Taxi and Limousine Commission, Office of Legal Affairs, 33 Beaver Street Room/Floor: 22nd Floor ; New York, New York 10004

Public Hearings

Date

September 24, 2021
10:00am - 11:00am EDT

Location



Connect Virtually

To participate in the public hearing, please e-mail the TLC at tlcrules@tlc.nyc.gov or call TLC at 212-676-1135 by September 22, 2021. After you have signed up to speak, TLC will provide you with a Zoom URL to enter in on your computer or dial-in via phone number if you prefer to call in.

Disability Accommodation

Online comments: 2

  • haany elgindy

    Should be a maximum principal amount because if somebody 0700 K and reduced by 40% his loan will be 480 K that mean he gonna work for the rest of his life to pay it off if he live 25 years
    It’s impossible to make a monthly payment $2000 plus car payment average of thousand dollars a month, tax stamp, medallion renewal ,gas ,car maintenance etc……. Do you think any money will be left to survive on for food rent medical expense sending kids to school . I would have to work 18 hours a day and still not gonna be enough to survive what’s next please if you’re trying to find a solution do it the right way the city and the taxidermist in commission destroyed the whole industry and now you given us a sleeping pills for the next year or two then the same situation will happen again because the business is keep going down and I believe Will never go up again when you approved Uber and the other company you wrote our death certificate for everyone on a taxi medallion or depend on driving taxi to make a living to feed his family
    Please look at us with Mercy has to be fixed somehow fix for good not Kimberly we didn’t want to go back to the same situation later on
    Thank you very much either way you help or not because God help everyone

    Comment added August 27, 2021 10:38pm
  • Samra D.

    I truly believe if the city cares to help and make a difference , why not reduce the sale price to what it currently is, for example many have bought medallions for 800K+ and now they are valued for $250, 000 and less , why doesn’t the city start forgive the 600k it lost in sale value . Most medallion owners , like my father , have lost everything. It is impossible to even survive trying to pay these loans while all the cars are parked and not being driven, no income from the taxis , yet thousands of dollars are demanded by the banks to pay loans. The big corporations received bailouts, banks got bailouots- how about saving the middle and low class for a change? It is unrealistic at this point to pay what is owed. Please please please consider a forgiveness for all the medallion owners who are drowning in debt

    Comment added September 10, 2021 3:45pm

Comments close by September 24, 2021

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