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March 9, 2021. NEW YORK—Mayor Bill de Blasio today announced the creation of the city’s first-ever Taxi Medallion Owner-Driver Relief Fund for financially troubled taxi medallion owner-drivers. The Fund, which will be stimulus-dependent, will offer debt relief to taxi medallion owner-drivers whose industry has been hard hit by the COVID-19

Mar 09, 2021 · New York City will use forthcoming federal stimulus money to create a fund to help financially distressed taxi medallion owners, but the plan is not getting a warm reception from drivers who say 1 day ago · A $65 million taxi medallion relief fund announced by Mayor Bill de Blasio has been met with disbelief by medallion owners and lenders alike. They question the economics of the plan and Mar 09, 2021 · NEW YORK (1010 WINS) – Mayor Bill de Blasio on Tuesday announced the city would launch a relief for taxi medallion owners and drivers to restructure medallion debt and offer payment support. 🚨 BREAKING: $65M Taxi Medallion Owner-Drive Relief Fund will support restructuring medallion debt and provide much-needed direct relief for our taxi drivers and owners. Interested medallion owners can email mrp@tlc.nyc.gov arrow_right: PPP loan application period ends March 31, TLC can help with applications Mar 10, 2021 · Relief plan for taxi drivers.

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Privacy Policy. Terms of Use. Learn more about Digital Accessibility Mayor de Blasio announced the creation of a $65 million Taxi Medallion Owner Relief Fund for financially troubled taxi medallion owners.

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NEW YORK—Mayor Bill de Blasio today announced the creation of the city’s first-ever Taxi Medallion Owner-Driver Relief Fund for financially troubled taxi medallion owner-drivers. The Fund, which will be stimulus-dependent, will offer debt relief to taxi medallion owner-drivers whose industry has been hard hit by the COVID-19 WPIX-TV [New York, NY], by Kristine Garcia Original Article. Posted By: Ribicon, 3/9/2021 10:28:08 PM New York—New York City announced relief for taxi medallion owners and drivers to restructure medallion debt and offer payment support. Sign up for our PoliticsNY newsletter for the latest coverage and to stay informed about the 2021 elections in your district and across NYC The city is pledging $65 million toward a taxi medallion The COVID stimulus package passed by the Senate over the weekend gives New York City enough money to offer a small lifeline to taxi medallion owners drowning in debt, Mayor de Blasio said Tuesday. New York City is creating a $65 million fund to help taxi medallion owners, but drivers called the plan “a disgraceful betrayal from a city that already has blood on its hands.” — NY Taxi Workers (@NYTWA) February 10, 2021 In 2021, thousands of taxi drivers are paying up to $600,000 in debt on medallions that are only worth $120-$150k. Last year, Desai testified before the State House Financial Services Committee that Confessions of Judgment were used extensively to take hundreds of thousands in debt from the pockets The new plan from City Hall, called the Taxi Medallion Owner-Driver Relief Fund, will provide up to $29,000 in no-interest loans to each of the estimated 3,000 drivers who purchased their own March 9, 2021. NEW YORK—Mayor Bill de Blasio today announced the creation of the city’s first-ever Taxi Medallion Owner-Driver Relief Fund for financially troubled taxi medallion owner-drivers.

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Mar 09, 2021 · WPIX-TV [New York, NY], by Kristine Garcia Original Article. Posted By: Ribicon, 3/9/2021 10:28:08 PM New York—New York City announced relief for taxi medallion owners and drivers to restructure medallion debt and offer payment support.

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The New York Taxi Workers Alliance has proposed a debt relief plan, and a task force created by the City Council proposed a plan early last year for a bailout. But Medallion Financial <> jumped as much as 8.1% after news that New York City announced a $65M taxi medallion owner relief program, to be funded with money from the Mar 04, 2021 · In 2013, New York City taxi medallions were selling for as high as $1.3 million at auction. A year later, the speculative bubble around taxi medallions burst. Today, these same taxi medallions are being auctioned and valued for as low as $70k, leaving drivers hundreds of thousands of dollars in debt, bankrupt, and with all their savings gone.

NYC news never sleeps. Get the Gothamist Daily Mar 09, 2021 · “The mayor released a ‘debt relief’ plan today using $65 million of COVID relief. This is a plan that is nowhere near what New York Taxi Workers Alliances has been advocating for,” Singh said. Mar 09, 2021 · NYC Launches Taxi Medallion Relief Fund - New York City, NY - Taxi drivers stuck owing big on their medallions can get up to $20,000 in loans from the city — but some say it falls far too short.