NYC Declares $ 65 Million In Reduction For Taxi Medallion Homeowners

NEW YORK – New York Metropolis Announcement aid for taxi medallion homeowners and pilots to restructure Medallion’s debt and supply fee help.

A $ 65 million aid fund was created with federal stimulus to financially help owner-drivers in misery.

Regardless of the making an attempt occasions of the pandemic, taxi drivers stepped up and helped town get meals to aged folks in want and made positive folks had been on the transfer in the course of the hardest occasions, based on the report. Mayor Invoice de Blasio.

“It is a very unhappy story, and it is a story of injustice as a result of the lenders took benefit of those components,” the mayor stated on Monday.

“Many locket homeowners are in bother and have requested town for assist,” stated Aloysee Heredia Jarmoszuk, commissioner of the Taxi and Limousine Fee.

As much as $ 20,000 in loans will likely be supplied upfront to restructure Medallion’s debt and a further $ 9,000 will likely be supplied in debt fee help.

Householders can repay that cash over time with 0% curiosity based mostly on their particular person talents, based on Jarmoszuk.

The aid fund allows town to mobilize to help owner-drivers, and Mayor de Blasio has stated lenders ought to do the identical.

Following the mayor’s announcement, the New York Taxi Employees Alliance stated in an announcement on relief fund does “completely nothing for us”, Calling it “a money bailout for lenders as we sink into debt, foreclosures and chapter.” No debt forgiveness. No collective resolution. No justice. It’s a shameful betrayal on the a part of a metropolis that already has blood on its fingers.

De Blasio stated the assertion speaks volumes and town listens to the issues of all folks, however their job is to create an answer that works.

Jarmoszuk reiterated that $ 65 million is an enormous funding and that they are going to work rapidly to make sure it’s carried out.

As town continues to reopen, the demand for taxi journeys begins to extend. Jarmoszuk stated town wants the taxi business to be wholesome and able to put extra taxis on the street.

Homeowners have been urged to go to the Taxi and Limousine Fee web site for join with the TLC useful resource heart and get further help.

An in depth consciousness marketing campaign was additionally put in place to maximise enrollment within the paycheck safety program.

Taxi drivers and supporters lengthy known as the mayor for assist with debt aid, with a lot of them protesting outdoors Gracie Mansion final 12 months.

Over the previous 12 months, TLC has helped licensees obtain potential help of $ 1.4 billion by means of federal, state and native help applications.

All medallion homeowners who need assistance or are desirous about this system ought to ship an electronic mail: [email protected]

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