Ultimately, the county commissioners caved, overhauling the previous laws and legalizing Uber's operations.
#Become taxi driver in miami code
Code enforcement officers cited violators and, in some cases, seized vehicles.
#Become taxi driver in miami drivers
Initially, local laws prohibited them from infringing upon the taxi industry's business, though the drivers often skirted regulations and continued to operate throughout the county. "It shows that knew how much these medallions were worth," Ruda says.īut then, in summer 2014, Uber and Lyft hit the scene. They fetched an average of $400,000 each. That same year, the county also auctioned six medallions. Once a medallion was acquired, the owner could choose to resell it on a private market.īut in 2012, county commissioners issued their last batch of taxicab medallions, putting a ceiling on the number of cabs that could operate in Miami-Dade. Buyers, chosen by a lottery, paid anywhere from $5,000 to $25,000 for each new medallion, depending upon the type (regular, wheelchair, or underserved area). The county issued only 27 to 38 new medallions each year. Originally, drivers were required to obtain individual licenses from municipalities, but county-issued medallions were considered "intangible property," meaning owners could use them as collateral for loans. Medallions were first issued by county commissioners in 1998 as part of an effort to reform licensing protocol. "Some people get a 401(k) others buy real estate in Miami Beach or West Palm Beach. Cabinets were their specialty. With the profits they saved from the business, the two decided to invest in the taxi industry. Eventually, he and his brother started their own custom furniture business. A few years later, Ruda graduated from City College of New York with a degree in engineering and spent a decade working for Sperry Rand, an IT company. Within two years, medallions, worth $350,000 at their peak, dropped in value by 90 percent.īorn and raised in Israel, Ruda moved to New York with his family in 1962, seeking better economic opportunity in the midst of the Israeli-Palestinian conflict.
But then, in 2014, Uber and Lyft swamped Miami's transportation industry, and the medallion market crashed. "Like others, I counted on for retirement." At the time, it seemed like a good call because medallions were dramatically rising in value. Believing they would be a safe investment, Ruda and his brother pooled their savings and purchased nine medallions for about $100,000 each. Owners could either use the medallions for their own vehicles, lease them to cab companies, or resell them. About 20 years ago, Ruda thought he'd retire at age 68, but with his 70th birthday approaching in a couple of months, he laments, "God knows."Ībout two decades ago, Ruda became one of many Miamians to own medallions, which are county-issued permits to operate taxicabs. He works as an investigator for his son-in-law's personal injury firm and says it's time to head back to work. Marty Ruda lays a brown leather briefcase in the back of his car, gets in the driver's seat, and straightens his shirt, a burgundy polo with two ballpoint pens clipped to the lapel.
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