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Citi Bike Needs Money Now, May Be Delayed Until Spring

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The Post has some disheartening news for anyone anxiously awaiting the debut of Citi Bike: the program could be delayed until next spring. According to a few anonymous sources, if the software issues delay the bike share until October, the city and Alta may just shelve the debut until next Spring. "No one wants to do this in November," said the source. Alta is worried that this may happen, so they've asked Citi Bank to speed up the payments of $3.5 million even if their roll-out targets aren't met. Citi is paying $41 million over five years to sponsor the program, and Alta has asked to get the first $1.4 million in September and another $2.1 million in January. Citi is supposedly reviewing the request.

Of course, this may just be rumormongering. A spokesman for the DOT said that the program will not be delayed until spring and that Alta has not asked for a "bailout." The city has been mum about the software issues, and no one really seems to have any idea as to when we could be riding the bikes.
· Bicycle 'Pump': Pedal-share firm pushes for quick $$ [NYP]
· Bike Share coverage [Curbed]