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Eye On The Bike

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Here's some more confirmation that embattled Citi Bike is nearing a bailout deal and expansion plan. First reported last week, anonymous city officials say they are nearing an agreement that would grant ownership to REQX (a venture by real estate giant Related and the owner of Equinox gyms), increase annual membership rates from $95 to as high as $155, and double the number of bikes to 12,000 with the first stations in Queens, plus eastern Brooklyn and upper Manhattan. [NYT; previously]