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Capano to Blast Citi Bike Expansion Plan on AM970 this Sunday $6,000 per bike is ludicrous!

Tune in to hear Bob on The Cats’ Roundtable Sunday on AM970 “The Answer” with John Catsimatidis at 8:30 am. They will be discussing the City Council proposal to spend taxpayer dollars on the expansion of Citi Bike at a cost of $6,000 per bike! That’s ludicrous and a bad use of tax dollars and a scheme that doesn’t past the smell test.

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The City Council announced earlier this week that it plans to authorize $12 million in spending to finance the expansion of the Citi Bike program by 2,000 bikes into areas of the city it does not currently serve and left the door open to future subsidies to the Citi Bike program.

Bob Capano said, “The New York City Council’s plan to finance Citi Bikes expansion in areas outside of Manhattan is ludicrous. When the Citi Bike program was originally presented to the city it was pitched as as a positive revenue generator. Now the City Council is looking to spend $12 million in tax dollars to expand the Citi Bike program in upper Manhattan and the outer boroughs and they opened the possibility that the $12 million could become a reoccurring burden for city taxpayers. It’s simply a bad use of tax dollars and a scheme that doesn’t past the smell test.

“The monthly financials released by Citi Bike shows it generated revenues in excess of $40.5 million in calendar year 2016. It’s bad enough that Citi Bike docking stations are gobbling up valuable parking spaces in residential neighborhoods and that bike lanes are creating headaches for commuters and small business owners. Now, to add insult to injury, the City Council wants the over-burdened taxpayers of our city to pay for the added inconvenience. You don’t have to have an MBA from Harvard to understand that the proposed cost of $6,000 per additional bike is crazy.

“In the City Council I’d call for a moratorium on all Citi Bike expansion, until such time that the operators are able to access private sector financing to pay for it. In addition, I’d call for better notification of residents within a 2 block radius of any planned site for a Citi Bike docking station so their voices can be heard. There are simply too many stories of Brooklynites being surprised by a docking station suddenly being installed in front of their home or place of business; this has stop!

“Mayor de Blasio and the City Council need to stop spending our tax dollars like drunken sailors. We have a municipal hospital system bleeding billions of dollars and an ever growing homeless population. Perhaps the $12 million would be better spent alleviating human suffering than adding 2,000 new bikes to the city’s streets.”

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