Stabilization of the Medallion Taxi Industry

Taxi and Limousine Commission

Published: Nov 19, 2021

Updated: Jun 18, 2026

Source: nyc_cityrecord

This tender has been awarded

Awarded to NEW YORK BUSINESS DEVELOPMENT CORPORATION — $67,000,000

Browse open Rural Development tenders in United States

About This Opportunity

United States contract award (rural development): Stabilization of the Medallion Taxi Industry. By Taxi and Limousine Commission. Awarded to NEW YORK BUSINESS.

This is a services contract in the rural development, information and communication technology and humanitarian aid sectors, with a focus on Community Development. Located in United States, North America, this opportunity is open to firms and consortiums.

Published through NYC City Record, a national government procurement portal. Public procurement tenders follow the country's national bidding regulations and may have specific eligibility and documentation requirements for services in the rural development sector. Service contracts are typically evaluated on both technical quality and price, and may require bidders to demonstrate relevant experience and qualified personnel. This contract has already been awarded. The information is published for transparency and market intelligence purposes.

Description

It is imperative that TLC start processing relief payments through a Community Development Financial Institution (CDFI) to stabilize the medallion taxi industry, mitigate serious danger to this essential transportation service, and stimulate the industrys recovery from the pandemic. Medallion owners are burdened with taxi medallion loans they are unable to pay. Market share and earnings are on a downward trend, which has given rise to an unsustainable imbalance between medallion loan payments and cash flow from the operation of a taxi medallion. Conditions have worsened during the pandemic and there was an unforeseen halt in trips in the Manhattan Central Business District and at airports, which is the core foundation of the taxicab industry. Relief is urgently needed to address the imbalance between outstanding medallion loan payments, and the actual earnings from the operation of a taxi medallion.

N/A

Agency: Taxi and Limousine Commission

Category: Services (other than human services)

Selection Method: Negotiated Acquisition

PIN: 15621N0001001

Data provenance

This notice is sourced from NYC City Record and was originally published on November 19, 2021. Last refreshed 8 days ago. BidsFactory mirrors official procurement notices and links back to the source for full legal text.

About Taxi and Limousine Commission

Taxi and Limousine Commission has issued 42 procurement notices on BidsFactory, including 0 currently open and 39 awarded contracts. Activity concentrates in General Supplies & Services, Information & Communication Technology, and Education & Training. All notices are published for United States. Notices are distributed via NYC City Record. Most recent publication: April 3, 2026.

Frequently asked questions about this tender

Who is the contracting authority?

This notice was issued by Taxi and Limousine Commission in United States. The authority is responsible for evaluating bids, awarding the contract, and managing performance.

What type of contract is this?

This is a Services contract in the Rural Development sector. The classification helps bidders match the opportunity to their qualifications and registered scope of supply.

How much was the contract awarded for?

NEW YORK BUSINESS DEVELOPMENT CORPORATION was awarded the contract for $67,000,000. The figure reflects the value disclosed by the contracting authority in the award notice.

Where will the contract be performed?

The contract is for delivery in United States. Foreign bidders should review local registration, taxation, and any in-country presence requirements before submitting.

How can I submit a bid?

Visit NYC City Record to access the full notice, required documents, and submission instructions provided by the contracting authority.

Is this tender still open?

No — the contract has already been awarded to NEW YORK BUSINESS DEVELOPMENT CORPORATION. The award notice is archived on BidsFactory for transparency and market intelligence.