12/7/2013 2:07:51 PM

December 4, 2013
Toronto's bike share program will continue to operate after an agreement was reached between the City and PBSC, the company that administers the BIXI Toronto service.

"We are pleased to announce that the City of Toronto will be keeping the bike share program operating for our customers," said Councillor Denzil Minnan-Wong, chair of the City's Public works and Infrastructure Committee. "In less than three years, the bike share program has proven to very successful and has become an important part of Toronto's transportation system with more than 4,400 paid subscribers and more than 1.8 million trips taken during this time. The City's actions will preserve bike share for Toronto, place the system on firm financial footing and provide it with a solid business plan under the management of the Toronto Parking Authority (TPA)."

As part of the agreement, BIXI Toronto will continue to operate the system until the spring of 2014 when it will be assumed by the TPA. The TPA is seeking a qualified private company to operate the system and both the City and the TPA are also working to find a title sponsor for the program.

Funding to permit this deal was made possible by a $5-million payment from Bell Media. The funding permits the City to secure all of the bike share assets, cover transition costs, and create a reserve account to help place the system on financially sound footing.

As a result, Bell Media's obligations to provide 20 automated public toilets under its current street furniture partnership with the City will now be reduced to nine, of which two have already been installed.

The City plans to expand the number of bike share stations from 80 to 102 in 2014 with funding provided by the City's Pan/Parapan Am Host City Showcase program. The TPA will work with the new private operator to develop a financially sustainable plan for any future expansion after 2014.