Us. Otherwise we would be earning interest through the regular city treasury. Director bridges you know the rate structure . The credit union is here. They can answer. Director bridges that is my question. I appreciate that. Chairman nolan will the credit union come forward. Good afternoon. I am rebecca with the San Francisco federal credit union. Director bridges my question was the money transferred back to the mta funds. The fun sitting in the credit union, what type of rate structure . It will be against their five year cnt, with 75100 basis points in addition to the rate. We wanted a good market right. Director bridges a good market right, thats correct. Thank very much. Chairman nolan can i get clarification on this balloon payment due in five years . The example we gave to chris, one choice, a borrower could have, the fiveyear loan. We want to keep the payment as low as possible. We want to make the term as long as possible. A fiveyear 30 is fixed for 5 years; at the end the bal
Have to work this slow shifts; they make around 25,000 here, they stay in the business hoping to get a medallion, and what you guys are doing is taking the money that a career cabdrivers look forward to, they dont get any benefits, they dont get employee protection, there are days that you dont make minimum wage and they are looking forward to becoming a medallion holder. I know 150,000 dollars sounds like a great deal saving 150,000. But you are not saving 150,000 if you have worked all your life to earn this medallions. It is wrong what you are doing; i dont house to put it. Medallion is an operating permit. The drivers are the ones who go out and risk their lives, wear their backs out, dave and after years. You feel the mta is more deserving of money to pay off the debt. None of this project it revenues going back into the tax industry; very little. Maybe have a lane where taxis can drive. You are not doing very much to crack down on illegal operators. Whether or not this is legal o
The driver to transfer the medallion and realized the asset value. Thank you for addressing that point. I feel a bit of Kindred Spirit with you today, suffering personal attacks. This is a program that was is explained like that shows that you as a staff showing respect the people will have a long time in industry. While it is tempting at some levels of the mta to reach out and take all this money we have sacrificed determine some of the revenue to create a transition program. And i appreciate your comments. Those are my questions. Chairman nolan director rubke. Chairman nolan i would like to make an amendment, item 11. Director rubke i would like to to make in a amendment to item 11. Chairman nolan second of the motion . If director rubkes amendment is passed, well get to 300 on the waiting list. Correct. Chairman nolan all those in favor . Passed, 11 as amended. I would like very much to see that the revenue generated, in fact is back to this industry in a direct, definable way, such
Because i middleoftheroad. Every day i have medicine in my pocket. Thanks director heinicke. This is what youre delivering. Majority the drivers used to be white. No longer. Now you have 500 nepalese. 0 mongolians, now hundreds. You decided to kill their living, get them out, and finish the livelihoods. Thats what one drive called others are blacks. Used to sing a song in the churches about mankind, what mankind is doing, this kind of behavior and me. What did i do wrong . This is what you are doing to the taxidrivers. These medallions will be worth. 000 pennies soon. They will even go to the ballot and get from the voters approval; what would you do with these medallions then . The financing will be bankrupt. You are running into a big risk now. If the public says yes, what is the outcome of this medallion . If you vote 400 on the meter, you [indiscernible] they are putting 80 more in the taxidrivers pocket. Is this medallion worth any money after . It is never happen in the 50 years
Secretary boomer yes, on matters within the jurisdiction of the board of directors but not on the agenda. Chairman nolan two minutes. Secretary boomer [indiscernible] chairman nolan mr. Malik . [sounds like] good afternoon. Honorable chairman and directors. Malik, longtime driver. Not on the agenda. Mr. Chairman, a few months ago you requested or ordered the sfmta to bring up credit card issue again. A lot of companies are charging five percent or more. Forcing the drivers to accept credit card via merchant, we pay the license fee to the city. We are independent contractors. I do now you can forces to accept credit card even though the people go to the clubs and bars. Ethey dont accept credit cards. They have to pay cash. The minimum is 21 dollars. If you go to the bar and order 6 10, you have to pay 21, and if you want another drink, you pay another 21. The same people, for 7 ride, they gave you credit card. And some people force you to accept credit card. Which is very unfair. If you