Bixi Toronto still owes $3.9M to city

A report to be dealt with by Mayor Rob Ford’s executive committee next week reveals bike-sharing company Bixi is having a tough time repaying a $4.5-million start-up loan from the city.

Two years in and the company still owes the city $3.9 million.

According to the report, the two-year-old program has been very successful from an operational perspective.

Staff is recommending restructuring the city’s relationship with the public bike-sharing company to protect the city’s financial interest.

Cycle Toronto is calling for the city to buy out the loan and take ownership of the program.

“Public bike systems fill the gap between trips too close for transit, but too far to walk,” Cycle Toronto’s Jared Kolb said in a statement.

“We need to invest in and expand the BIXI system.”

But at an event on Wednesday, Ford seemed unwilling to take on that cost.

“No. I’m not going to subsidize them. Absolutely not,” he told reporters.

“If there’s money, obviously I want the money. And if they can’t pay for it, then obviously we have to take other actions. That’s why I’m always careful when people come and ask us for money. There has to be guarantees.”

Public Works Committee Chair Denzil Minnan-Wong said he’s been told Bixi’s Montreal-based parent company wants to shut down the Toronto operation.

Bixi launched in May 2011 and currently has more than 4,600 paid subscribers.

With files from CityNews.ca staff

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