Portland's upcoming bike-share program has been pushed back to spring 2014 due to a lack of funding.
Portland received $2 million in federal funds to get the effort off its feet and has refused to use city money. But according to [Portland Bureau of Transportation project manager Steve] Hoyt-McBeth, the company chosen to run the program, Alta Bicycle Share, is now short almost $6 million needed to pay for the program's equipment and run it for five years. Bike share is still waiting for corporate help.
That's not uncommon. Similar programs throughout the country have used sponsorships to buy systems and fill in operational funding gaps.
But "no one came forward with committed sponsors," says Hoyt-McBeth. Portland-based Alta, tapped in September, didn't even kick off fundraising in earnest until late last month.
Read more at The Portland Mercury.