Cincinnati's bike share program Red Bike is looking for three-year funding commitments to support long-term operations.
Red Bike shut down for the first few months of 2024 due to a critical funding shortfall. A coalition of public and private entities raised enough one-time support to reopen the bike share program.
Executive Director Doug McClintock says they have enough funding to last through April 2025.
"I think the pause caused us to really re-evaluate some things we were doing, and we have made some major changes," McClintock told a City Council committee Tuesday.
That includes not expanding with new docking stations, despite having funding to do so. (The city previously funded Red Bike with capital dollars that can be used for physical infrastructure but not for operating costs.) McClintock says they also worked with a consultant to evaluate Red Bike's budget.
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"The amount of regular full-fare revenue will never make up what it costs to run the system," he said. "Much like fixed-route transit, there has to be subsidy ... our Go program requires even deeper subsidy, because these folks, A, use the system a lot, and B, they don't have the means to pay for it."
The Go Pass program offers a $5 monthly membership to low-income customers (compared to full-fare $30 monthly memberships). Although ridership in 2024 is trending slightly down after last year's record high, the number of Go Pass members is increasing.
The budget crisis earlier this year stemmed from losing the sponsorship of UC Health. McClintock says the new funding model will have to be more diverse. Tentative plans include $125,000 annual funding from the city of Cincinnati; $125,000 annually from METRO; $75,000 from different partners in Northern Kentucky; and $100,000+ in corporate sponsorships. The Go Pass program would be funded by a philanthropic partner.
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Red Bike has enough operating funds to last through April 2025.
See the full presentation slides below:
