Citi Bike owes city $1 million in parking revenue

"This is highly unusual in the bike-sharing world"

TRD New York /
May.May 27, 2014 06:10 PM

There’s no such thing as free parking in New York.

NYC Bike Share, a subsidiary of the Portland, Ore.-based program that runs New York’s Citi Bike program, is getting a $1 million parking ticket from the city for using parking spots for some of the program’s 330 docking stations. According to the Wall Street Journal, a provision in the contract requires that the company pay for the revenue the city is missing out on by taking up those spaces.

The city says it lost about $1 million in revenue in 2013.

NYC Bike Share has been in talks with the city’s transportation officials to remove the clause from the contract.

Sources told the Wall Street Journal that the parking provision, which was negotiated during the Bloomberg administration, is an unusual inclusion in a bike share contract.

“This is highly unusual in the bike-sharing world and I’m not aware of other municipalities doing this,” Paul DeMaio, a consultant in Washington, D.C. and who oversees a portion of the area’s a Capital Bikeshare, told the Wall Street Journal. [WSJ] — Claire Moses


Related Articles

arrow_forward_ios
Photos and text from the lawsuit. (Source: New York State Unified Court System)

“Retribution and revenge”: Select Garages says Donald Zucker is trying to destroy the company

Self-storage developer picks up Flatiron District parking garage for $32M

Do the math: Buy a parking space or start a real estate empire?

Gary Spindler sells 99-year lease of parking lot on the Far West Side

Self-driving cars could kill parking garages. Here’s how developers are responding

Are parking garages toast?

Three garages at UWS luxury buildings hit market asking $65M

Trouble parking? Just drop $185K for a spot at this BK garage

arrow_forward_ios