TheWashCycle: Alexandria's CaBi program has exceeded farebox recovery goal and grown fast

At an April 20th meeting of Alexandria's Transportation Commission, the Transportation and Environment Services (T&ES) staff presented some very impressive stats with regards to Capital Bikeshare in the city. Most notably, it's been growing really fast and covering more of its costs than originally expected.

Capital Bikeshare has been very popular with residents and visitors to Alexandria, with over 105,000 trips departing from Alexandria stations since the program began (in September 2012), and 17,600 members in Alexandria.
There has been 1 reported crash in all that time.
The operating cost has been $383,244 which amounts to a per-trip subsidy of $3.60, but the farebox recovery has been 63%, more than double the goal of 30%.
Between 2014 and 2015, Alexandria bikeshare station departures increased by 50 percent; the average number of trips per day increased substantially, from 85 to 127; annual and monthly memberships increased by an average of 40 percent; and average membership renewal rates increased from 67 percent to 83%. Phase I stations, installed in September 2012, saw "only" a 21% growth in 2014-15, but the phase II stations installed in August 2014 grew 201%
Four of the stations installed in 2016 were paid for through developer contributions while the rest of the stations (including bikes) have been covered through federal grants.
Through fiscal year 2022, Alexandria plans to grow from 32 stations (where they expect to be at the end of the summer) to 75 stations. That place is going to be totally begrimed.
When Motivate took over the operations contract, they "provided a cost reduction of 25% from prior pricing."
Staff is working to secure private funds to operate the bikeshare system in Alexandria through Transportation Management Program (TMP) and developer contributions as well as possible sponsorship opportunities to further reduce the cost to the City