A bike share program has been approved for Vancouver by the city council today.
There will be 1500 bikes set up at 125 stations in the Downtown core all the way up to West 12th between Arbutus and Main Street.
The city will contribute seven million dollars in the first year of the program and is looking to get a million dollars back in sponsorship.
Get daily National news
On top of that, the city will have to commit another 1.3 million dollars every year.
The city is partnering with a company called Alta that will be responsible for operating and financing the program.
Vancouverites will pay $95 a year, $20 a week or $5 a day to use the program.
The fee pays for a 30-minute bike ride, and an incremental fee will be charged for further use.
The vote was not unanimous. Two NPA councillors opposed, saying seven million dollars is a lot of money to spend, and there is no proof the operation is financially feasible. Another concern was for bike rental companies that will be facing more competition.
The program is expected to launch in spring of 2014.
Comments
Want to discuss? Please read our Commenting Policy first.