The city of Toronto has decided to embrace a program that has long been active in Canadian cities such as Montreal. Although we won’t see it this summer, Bixi Bike sharing system is scheduled to launch in Spring/Summer 2011. With 1000 bikes in 80 locations, it’s a great alternative to getting around the city, not worrying about getting your bike stolen or waiting for the TTC.
City staff and PBSC have negotiated the draft terms of an agreement whereby PBSC would enter into a 10-year agreement with the City to be launched May 1, 2011. When the program is deployed, Torontonians and visitors would have access to 1,000 bicycles via 80 fully automated and conveniently located “bicycle parking stations” in the downtown area during the first year of operation with the potential to expand the system to other areas in the future. PBSC would be responsible for the $4.8 million capital investment to manufacture and install the public bicycle infrastructure and for the operation of the program, and the estimated $1.3 million average annual operating cost. In return, the City would provide a loan guarantee to assist PBSC in securing favourable financing. The City would be responsible for the cost of replacing the bicycles and stations due to vandalism and theft in excess of a six percent threshold.
The proposed agreement between the City and PBSC provides Toronto with a significant program which aligns well with the City’s sustainable transportation and environmental objectives, with minimal cost or financial risk. The draft terms of agreement are very favourable to the City in comparison to other cities around the world with similar public bicycle programs.