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Should revenue from sale of taxi medallions benefit Philly schools?

By the Notebook on Dec 9, 2013 10:50 AM
Photo: Nathaniel Hamilton/NewsWorks

The Philadelphia Parking Authority is approving the sale of 150 new taxicab medallions. The sale of the medallions could generate $60 million to $75 million.

by Kevin McCorry for NewsWorks

Follow the money.

Taxi medallions in Philadelphia, depending on the market, can sell for $400,000 or more.

And over the next decade, the Philadelphia Parking Authority, which oversees the Taxicab and Limousine Division, will authorize the creation of 150 new taxicab medallions.

The new medallions will be specifically designated for wheelchair-accessible cabs.

Right now, there's just one wheelchair-accessible cab for every 20,000 Philadelphians who can't be accommodated by standard taxicabs.

Revenue expected from the sale of the new medallions at $400,000 each works out to $60 million. The PPA plans to issue 20 to 30 medallions per year for the first two years -- starting in 2014 -- and then 15 medallions per year after that. Over the course of eight  to 10 years, the medallions are expected to raise roughly $6 million per year.

So where will that money go?

It's a question that Helen Gym, co-founder of Parents United for Public Education, has been mulling as the School District of Philadelphia has limped through its first few months of classes.

The short answer is: None of the medallion money will go to the cash-strapped School District.

All of it, in fact, will go to a fund controlled not by the PPA, but by the Pennsylvania State Treasury.

Read the rest of this story at NewsWorks

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Comments (3)

Submitted by Go-Eagles (not verified) on December 9, 2013 8:27 pm
If it doesn't end up going to the charters, it will go to the pension fund.
Submitted by Anonymous (not verified) on December 9, 2013 10:04 pm
There goes Helen trying to get her hands on another stream of public revenue. Why does she think that all sources of revenue are the SDP's for the taking? They are not. I hope the state legislature rejects the plan out of hand. I am also disturbed by what appears to be a 10% kickback to the taxi workers union for their support. Someone should contact the Attorney General's Office to take a closer look at this unholy alliance.
Submitted by public school parent of four (not verified) on May 9, 2014 6:50 am
Pretty soon all taxes will be going to the schools to pay for the overpriced teachers and all the staff. Sure teachers should get paid good money but if the kids are not learning the pay needs to drop. I'm tired of hearing everyone and their mother needs to suck it up and do what's right for the kids and pay moe. And that's fine but school personal should also give some of the perks back and take a pay cut for the kids. But that will never fly with them.

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