Monday, August 20, 2012

SFMTA Board Meeting on Tuesday August 21, 2012

 Come One! Come all! See the SFMTA Plan to sell us out!

The drivers on the Waiting List should go because the SFMTA intends to stop giving you medallions worth $30,000 a year in revenue or $250,000 in a sale and take the profits for themselves.

The 300 Pre-K's and 900 Post-K's should go because the SFMTA plans to take $50,000 away from the sale of your medallions to give themselves a nifty $60,000,000.

But, wait! The SFMTA has something for everybody!

To read more click "Read more" below.

Those of you who want to buy medallions should go because the MTA wants you to pay $300,000 instead of $250,000 with $60,000 instead of $50,000 down. The MTA wants to take 30% instead of 20% of the gross. Theoretically, this would leave you with $210,000 instead of $200,000 - but only if you pay cash.

If you took out the standard 15 year loan your monthly payment would be:
  • $2,036 per month as opposed to $1,629 for those who bought at $250,000.
  • Thus, you would pay over $20,000 more for your medallion than those who bought at $250,000.
  • Meaning that your medallion would actually be worth more than $10,000 less.
In addition, you would not really be buying a medallion. It would be "transferred" to you, meaning perhaps that the MTA could decide to take 50% instead 30% in the future and there'd be nothing you could do about it.

Those of you who bought medallions under the Pilot Plan should go even though you appear to be the only winners in this scheme.  You would get $210,000 instead $200,000 off a "transfer." 

Better than a slap in the belly with a wet fish, but, the idea in the Pilot Plan was that, if there was a cost of living increase to $300,000, the amount going to the city would remain at 20%. Under this scenario, you should be getting $240,000.

Just another way for the SFMTA to tell you that you're their punk.

Of course there will be a protest tomorrow and I'm all for it. Come one! Come all!

Only, I would hope (probably against hope) that it will be relatively quiet and not annoy the public much. We want them for - not against us.

The most important thing you can do is show up and tell the SFMTA what you think of their plans. Director Malcom Heinicke has sent a message that we should clearly state the points that we would like to see changed. I suggest we should do exactly that.

Someone else said we should keep it simple. Another good idea.

Come one! Come all!


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