NEWS

MINIMUM BID PRICE & IMPORTANT DATES FOR UPCOMING MEDALLION AUCTION

The New York City Taxi and Limousine Commission (TLC) has determined that the Minimum Upset (Bid) Price for the 63 Accessible Individual medallions that will be auctioned on November 1, 2007 will be $189,000.

The Minimum Upset Price is the minimum amount that will be considered valid. Any bids below the Minimum Upset Price will be rejected as being non-responsive.

BIDS ACCEPTED:

October 26, 29, 30 and 31 – 9 a.m. to 12 p.m.
40 Rector Street, 5th Floor, New York, N.Y. 10006

For this auction of the 63 Accessible Individual Medallions, the highest bidders will win. The remaining 87 (Corporate and a small number of Independent Alternate Fuel) medallions will be sold at a separate auction in the Spring of 2008.

Industry Notice #07-25

SOME MEDALLION OWNWERS RECEIVED A SPECIAL NOTICE FROM THE TAXI LIMOUSINE COMMISSION BECAUSE THEY SIGNED A CONTRACT WITH TAXI TECHNOLOGY CORPORATION (TAXI TECH) AS THEIR NEW TECHNOLOGY VENDOR.

The New York City Taxi and Limousine Commission (TLC) sent Taxi Tech a letter because Taxi Tech has not met the terms of their contract with the TLC.

Taxi Tech has 30 days from the receipt of our letter to them to meet these requirements. It is possible that the TLC will terminate its agreement with Taxi Tech because they cannot meet the terms. If TLC ends this agreement, we will reach out to you. If this occurs, the contract you signed with Taxi Tech will finish.

If your inspection falls between October 1, 2007 and November 30, 2007, you have been granted an extension for the installation of the technology system. Your car will still be inspected in October or November 2007, but you do not need to have the technology installed until your next scheduled inspection. If your inspection is on December 3, 2007 or after,you do not get an extension for the installation of the
technology system.

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