As reported by the
CBC Toronto's bike-sharing program, known as Bixi, has officially signed up its 1,000th member. The City of Toronto had earlier pledged to support the program if Bixi could collect 1,000 membership pledges before this November. Now that the membership goal has been met the City will commit a $4.8-million startup loan for the bike-share program.
"When the program launches in May 2011, bikes will be available from 80 locations south of Bloor Street between Spadina Avenue and Jarvis Street. A resident or visitor will be able to use one of the bikes for a fee of $78 a year, $28 per month or $5 per day."
"Toronto will guarantee a $4.8-million startup loan for Bixi and has to dig up $600,000 in sponsorship deals. But the city is not directly funding the program. But the city is not directly funding the program. Public Bike System Company runs a similar Bixi program in Montreal, which has about 5,000 bikes parked at about 400 stations across the city."
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CBC