The Virgin Islands Taxicab Commission has announced that it will hold its annual veteran medallion auction on Dec. 14, 15 and 16. This auction is opened to V.I. veterans of the U.S armed services only, according to a press release from Executive Director Levron Sarauw Sr.
Applications can be picked up at the Taxicab Commission’s Office during regular working hours (Mon-Fri.; 8 a.m. to 3 p.m.). Bid forms must be deposited in the bid box no later than 10 a.m. the day of the auction.
Applications must be taken to the Office of Veterans Affairs for verification of eligibility as a U.S. Virgin Island Veteran on the island for which the bid is scheduled. Bid applicants must be present at the time of auction. Bid envelopes will be publicly opened on the date and times indicated.
Any persons who purchases a medallion at auction is prohibited from transferring said medallion by sale, or otherwise, within three years of purchase.
Only approved buyers may submit a bid.
Two medallions for each island will be auctioned to approved U.S. Virgin Islands Veterans on the following dates and times:
• St. Thomas – at 11 a.m., Wednesday, Dec. 14, at the Taxicab Commission Office, Sub Base
• St. John – at 11 a.m., Thursday Dec. 15, at the St. John Administrator’s Office
• St. Croix – at 11 a.m., Friday, Dec. 16, at the St. Croix Taxicab Commission Office, 3274 Estate Richmond
The minimum acceptable bid is set at $20,000 for St. Thomas, $20,000 for St. John and $8,000 for St. Croix.
A 10 percent down payment of bid amount (nonrefundable deposit if the sale is not consummated) is required at the time of the bid or no later than 3 p.m. on the same day. This down payment must be paid by money order or certified check payable to the Government of the Virgin Islands. No payment will be accepted in cash.
The remaining balance of 90 percent must be paid in a like manner within 10 days after the date of the auction sale at which time a Certificate of Entitlement and the Medallion will be issued. If the sale is not consummated within the allotted 10 days, the second highest bidder will automatically be awarded the bid.
Any questions or requests for additional information should be directed to the Virgin Islands Taxicab Commission at 693-4211, ext. 4002.
