[…] According to the financial plan released by the City of New York in January 2013, the forecasted revenue from the sales of the Taxi Medallions has been reduced from $790 million to $600 million in FY’2014. This means that the city has shifted the collection of the revenue to FY’15 ($50 million) and FY’16 ($140 million.) The unpredictability of this crucial revenue is creating a fiscal conundrum for the City of New York and this is exactly where the risk lies. If you would like to have a better understanding about this problem, you need to read the analysis published by Optimization with an Impact titled “The Taxi Medallions Dilemma”. […]
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