Honolulu Mayor Kirk Caldwell has been meeting with cycling enthusiasts, public heath advocated and local transportation officials to create a plan to introduce a bike-sharing program to Honolulu by 2015. The program will be modeled after one created in Chicago, where bicycles can be rented and then later dropped back off at various stations throughout the city. Typically bike-share programs would provide uses with an annual, monthly or daily fee to use the network of bikes. Fees would be added if a bike stay out past their expected return time.
It is estimated that providing 1,700 bikes for 180 stations would cost approximately $11.9 million to start up. The project would be financed by a mix of public grants, city transportation funds, and private advertising on the bikes and bike stations. It is estimated that the program would generate about $4.7 million in user fees during its first year, which would be enough to cover operating costs. Mayor Caldwell has also proposed creating additional "protected bike lanes" around Honolulu, which would separate cars from bike lanes with plastic barriers. This would create a lane for bicyclists to ride between cars and the sidewalk.
Source: Honolulu Star Advertiser, 10-14-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, REALTOR®
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