In a surprise announcement, on Sunday Los Angeles mayor Antonio Villaraigosa introduced a new bike-share program that will place 4,000 rentable bikes at 400 kiosks arround the city. The bikes will be installed over the next 18 to 24 months and will be available for $6 per day or $1.50 for an hour. The program will be funded by a $16 million investment from the private company Bike Nation. "In tough economic times like these, we knew it wasn't feasible to start a public bike-share program. But we do know it's what L.A. needs," Villaraigosa said. Bike-share programs have been adopted in other cities, including Denver, Washington D.C., and Boston.
Read more at the Los Angeles Times
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