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Bike sharing program, Citi Bike, has become a regular and popular fixture on the streets of the Big Apple but its leaders say the enviro-friendly blue wheels will grind to a halt unless the City allows for a rate hike. Tens of millions need to be raised so Citi Bike can appeal to more tourists and be rolled out into new neighborhoods.

Currently, Citi Bike is most popular with annual users, who generate less revenue than daily and hourly users. It costs only $95 per year compared to a 24-hour pass for $9.95 or a 7-day pass for $25.

According to NYC’s new Transportation Commissioner, Polly Trottenberg, Citi Bike faces a number of unspecified financial and operational issues that her department is actively seeking to resolve.

It’s known that this winter’s unseasonably cold temperatures hurt ridership while the program was still dealing with software glitches and equipment damage caused during Superstorm Sandy. At least three lawsuits have been launched, seeking the bike share program to remove stations from in front of residential buildings.

Other property owners view the bike sharing stations as an attractive building amenity.

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