Toronto continues with BIXI bikes program into 2014

From a City of Toronto press release:

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.