The Santa Monica City Council has recently approved the transfer of all taxi franchise rights from Metro Cab Co. LLC to All Yellow Taxi Inc. Metro Cab is one of five franchisees authorized to provide taxi service with in the city of Santa Monica.
Metro Cab now in debt is looking to sell it’s assets to All Yellow Taxi for $2.8 million. The company is authorized to operate 66 taxis.
In 2010, the city of Santa Monica awarded taxicab contracts to the top 5 rated companies based on proposals received for a taxicab RFP (issue date 1.14.10). Metro Cab was the highest rated taxi company. The evaluation criteria included proof of financial viability, business plan and other factors. Metro Cab scored 79.04 based on a 100 point scale.
All Yellow Taxi also submitted a proposal for the RFP and was ranked sixth. As a result they were not awarded a taxicab franchise.
At the Tuesday meeting, other competing taxi company owners requested City Council to re-open the bidding process for Metro Cab’s franchise.
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