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Taxi medallion owners urge city action as public comment floods meeting
Summary
Numerous medallion purchasers addressed the board during public comment, calling for debt relief, buybacks or bonds to address foreclosures and financial distress tied to the city’s medallion sales program and increased ride‑hail competition.
Multiple taxi medallion purchasers and drivers used the Board of Supervisors’ public comment period on Nov. 2 to press the city for debt relief and policy fixes after a decade of financial losses tied to the medallion sales program and the rise of ride‑hail services.
Speakers described foreclosures, mounting loan obligations and the impossibility of reselling medallions at prices initially advertised. Several speakers asked the board and the San Francisco Municipal Transportation Agency (SFMTA) to consider measures such as a city‑backed bond, a medallion buyback, expanded airport access, or other debt relief that would prevent further financial harm to largely immigrant owners.
Callers including medallion purchasers and taxi industry advocates said nearly half of medallions sold under the program have been foreclosed, and that lenders and buyers have suffered losses. One caller asked the board to use authority under a voter measure (Prop A, 2007) that can allow issuance of bonds without further voter approval. Others described operational challenges including loss of airport access and competition from ride‑hail companies.
Supervisors did not take immediate action during public comment but several members indicated sympathy and said the issue required consideration. The board did not vote on a specific medallion‑related measure during the meeting; callers urged follow‑up and for the SFMTA and the board to consider immediate relief measures.
