Thanks to a new measure proposed by the SFMTA, SF could add as many as 125 new cabs for hire. As the Ex reports, the measure would include taxi medallions issued for full-time use or peak-time use as well as special electric vehicle medallions.
There are about 1,500 medallion holders in the City right now with 7,000 registered drivers. Medallion holders can lease their cars to multiple drivers which means that an additional 125 cabs could mean an overall increase of 8%.
As expected, drivers might not be all that jazzed by a measure to add more competition to SF’s streets. The MTA’s recent plan to allow medallion owners to sell their permits for $250,000 has already drawn fire from their numbers, as has a the 5% fee for drivers on credit card transactions.
This issue is expected to go before the SFMTA board on their June 21 meeting, which is scheduled for 1 PM at City Hall, Room 400.