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or only to direct sales? the way i read it is that we would have to repurcha for the initial purchase price. in the retiree scenario, we at the m.t.a. do not realize the full purchase price. so for example in the retiree scenario we only get 15% of the repurchase price. the situation is that we currently have or we are walking towards a situation where we will have transferable medallions and nontransferable medallions. i think you are talking about a revenue that might come monthly to the m.t.a. and when we are talking about transferable medailyions, those sold by a previous owner to new owner or that were held because of the death or surender of a previous owner and are being sold out right to the new owner. so it really covers direct sales situation. this is not public to a program where we will be splitting it with a retiree? no. other than some of the transfer fees go to the driver fund. but that is the only split. if we are forced, we will have a situation where w
10.1 also as well. so that leaves the remaining consent calendar. 10.2 minus k and then the rest of the consent calendar. is there a motion? move to approve. all in favor say aye. ok. let s go to the other two. 10.1. i don t know how much of this we can discuss publically but it concerns the safety-discipline report we get on a few of these items is incomplete. we just ushered mr. haley out. let s do the other one first. 10.2k has to do with traffic modification to establish a bus zone on 24th street 75 feet easterly. this was severed by a member of the public, charles riggs. good afternoon. good afternoon board members. i am charles riggs. my opportunity to address your item k. the specific issue that s all right. i will wait. start again, sir. once again, i am charles riggs. i am speaking on behalf of my neighbors and residents in the east mission area in the boundaries of the neighborhood that i gave to you. i believe item k is a proper item for
medallion is already transferable if we legislated the value of it right back out. that is correct. all right. so then will that apply also to the medallions that go out through the retiree program? or only to direct sales? the way i read it is that we would have to repurcha for the initial purchase price. in the retiree scenario, we at the m.t.a. do not realize the full purchase price. so for example in the retiree scenario we only get 15% of the repurchase price. the situation is that we currently have or we are walking towards a situation where we will have transferable medallions and nontransferable medallions. i think you are talking about a revenue that might come monthly to the m.t.a. and when we are talking about transferable medailyions, those sold by a previous owner to new owner or that were held because of the death or surender of a previous owner and are being sold out right to the new owner. so it really covers direct sales situation. this is not public
so it really covers direct sales situation. this is not public to a program where we will be splitting it with a retiree? no. other than some of the transfer fees go to the driver fund. but that is the only split. if we are forced, we will have a situation where we realized all of the funds or the vast majority of them in the first instance. right. my question is, is there any calculation for depreciation for use of the medallions? i realize that it is hopefully something that will never come to pass. but if we did have to repurchase a huge lot of medallions it would be very expensive. to give somebody the original purchase price when they had the use of the medallion for a long time. rather clear obligation is the board passes this item and if we enter into the lender agreement it would be to provide the purchase price regardless of what you might call the current market value or depreciation. this would only arise if you said these once transferable medallions that
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