Citigroup announces $41M deal with city bike share program [NYC]

Banking behemoth Citigroup announced today it’s funneling $41 million into the city’s ambitious bike share program, paving the way for the two-wheeled invasion to begin in as early as July.
Mayor Bloomberg unveiled the Citigroup branded bikes — in the company’s trademark blue hue and plastered with the new “Citi Bikes” logo —at City Hall.
The financial company’s sponsorship allows the city to operate the program at no expense to taxpayers.
“The new Citi Bikes will be an affordable, entirely new, 24/7 transportation network that will help New Yorkers get where they are going faster,” he said.
The new Citi Bikes are debuted at City Hall today.
The bike share program, when complete by spring 2013, will be the largest in the country, with 10,000 bikes and 600 stations scattered across Manhattan and Brooklyn.
The exact locations of the solar-powered bike stations will be revealed later this week, but officials have said many will be near mass transit hubs.
Department of Transportation Commissioner Janette Sadik-Khan said the blue bikes will someday be as synonymous with New York City’s transit network as yellow cabs.
“This exciting sponsorship will help extend the reach of our tranportation network at no cost to our taxpayers,” she said.

Editor's note: Let's get private dollars for the bike share in Columbus! Why are we draining the parks and recreation budget for something a private company can and should fund. Go Citigroup!