In a surprise announcement, on Sunday Los Angeles mayor Antonio Villaraigosa introduced a that will place 4,000 rentable bikes at 400 kiosks arround the city. The bikes will be installed over the next 18 to 24 months and will be available for $6 per day or $1.50 for an hour. The program will be funded by a $16 million investment from the private company Bike Nation. “In tough economic times like these, we knew it wasn’t feasible to start a public bike-share program. But we do know it’s what L.A. needs,” Villaraigosa said. Bike-share programs have been adopted in other cities, including Denver, Washington D.C., and Boston.
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