[A thorough cost-benefit analysis] was conducted in 2010 as part of a grant proposal for Capital Bikeshare. Using a 7 percent discount rate, the study projected a benefit-cost ratio of 1.72 over 20 years.
More than three years into the program, it would be useful to revisit the calculations to see what assumptions held true and which were not accurate. Such an exercise would allow city planners to turn anecdotal user information into concrete data for decision-making and financial planning. The section that follows does not attempt to come up with a precise benefit-cost ratio, but rather to explore the nature and economic value of some of the non-monetary benefits of Capital Bikeshare.
It's too bad, I've also wanted MWCOG to look at, and update, this analysis.
Kristin Johnson, the author, then goes through some of the benefits and their values. This includes user cost savings of about $370,000 a year, increased access, congestion reduction from 4.7 million miles of reduced driving, CO2 reduction (for which a good number was not available), health benefits, crash reduction, and reduced travel times.
And I agree with this
Despite the fact that Capital Bikeshare has not yet achieved full cost recovery, its proponents argue that it is a part of the public transportation system just like Metrorail and Metrobus, and as such should not be expected to fully pay for itself. If that is truly the case—if cities around the country continue to add bikeshare programs and treat them as key components of their transit system—it will become even more important to rigorously collect data on the various costs and benefits associated with bikeshares.
Good news for people who commute via employer-provided CaBi memberships and who report that membership as a taxable fringe benefit (If any such people actually exist).
U.S. Senator Chuck Schumer (D-New York) said Tuesday he’s introducing an amendment to a tax bill that would allow workers who commute via bike-share programs like New York’s Citi Bike to get a tax break; the bill is set to be debated on Thursday. The tax break would let employees biking to work exclude $20 a month from their income for income tax purposes if they have an employer-provided bike-sharing membership.
Though that sum may sound insignificant, the IRS’s current position is that bike-share fees do not count as a commuter fringe benefit—meaning that employers that provide employees with a bike-share benefit can’t exclude its cost from an employee’s gross income, like they can with monthly parking or mass transit costs—or even the cost of storing or buying a bike you ride to work (up to $20 in 2013). What’s more, the IRS said last year that a move of this sort would require legislative action.
It's not clear if these means you can use the bike commuter benefit to pay for a bikeshare membership on your own or if it has to be employer-provided.
While this amendment would certainly delight the thousands of travelers who commute to work via bike-sharing programs, there’s certainly no guarantee it will pass. Indeed, the amendment will be part of a larger “tax extenders” bill that will address renewal of some 50 tax credits and deductions that expired last year. But Schumer seems confident that that this amendment would be part of a “must-pass” senate tax bill that will be debated Thursday.
On December 21, 2013, the District exercised a partial option for one (1) month, while it secured the funding for the remainder of the option period. During that time, it was brought to the attention of DDOT that Alta's bicycle supplier had filed for bankruptcy. DDOT had verbal communication with the Alta (sic), which assured the program and procurement staff that Alta had a contingency plan that would ensure continuity of operations without any disruption. On February 10, 2014, DDOT received Alta's plan which outlined its expectation of its bicycle supplier as well as its own contingency plan. The plan stated that the main equipment supplier is expected to fulfill call center services and to fill any outstanding orders for stations and spare parts while under bankruptcy protection.
We’re also pretty excited about Capital Bikeshare’s #bikeinbloom! They’ve teamed up with the National Cherry Blossom Festival on a pretty pink, cherry blossom-themed bicycle! From March 20 to April 13, the reflective pink bike will be available for use, just like any other Capital Bikeshare bike. Snap a picture when you see it out and about, and post it to Facebook, Twitter, and Instagram with the #bikeinbloom hashtag to be entered to win great prizes!
The A.B. Pack is a waterproof bag that basically sits inside the existing rack. It has a strap that wraps around the rack in order to secure it. It's got a tall profile of the bag that lets you pile stuff in there, and when you drop off your bike you can sling the bag over your shoulder to continue on foot.
College Park and the university said in October they were negotiating a one-year contract with Alta Bicycle Share, the company that runs Capital Bikeshare, to install bike stations, supply bicycles and operate the system. The plan was to have Capital Bikeshare running by Feb. 1.
Terry A. Schum, director of planning for College Park, said the city was very close to signing the agreement with Alta, but it is now on hold due to Public Bike System Co.’sfiling for bankruptcy protection last month. Public Bike System is one of Alta’s main equipment and technology suppliers.