The popular Citi Bike program is facing serious financial and operational troubles, and officials are looking for ways to raise tens of millions of dollars to save it. Those running the program are hoping the de Blasio Administration will allow them to raise rates. One reson for the revenue shortfall is that more 24-hour rentals were expected, as opposed to the less profitable yearly memberships. Damages from Superstorm Sandy and software glitches created other problems. But advocates blame Alta Bicycle Share, the company operating Citi Bike, for failing to improve the program, resolve problems, and find new sponsors beyond Citigroup.
Other Stories We're Following
Mayor Vows Reforms On Rikers Island (NY Times)
Kid Sneaks To Top Of WTC, Which Has No Cameras (NY Post)
Congestion Pricing Plan Gains Actual Momentum (Capital)
De Blasio Finding Victories In Pursuit Of Liberal Agenda (NY Times)
Public Authorities' Financial Data Now Available Online (Associated Press)
City To Broker Peace Between Schools Sharing Space (WNYC)
Pols Silent As Thousands Await Charter Spots In Their Districts (NY Post)
City To Revamp Bloomberg’s Restaurant Grades (Capital)
Dream Act Revived In Assembly Budget Negotiations (Wall Street Journal)
Housing Chief Says Plan Will Be Unveiled By May (Crain's)
D Train Grimiest In Subway System (DNAinfo)
Tuberculosis Cases Rise In City (am New York)
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