New York City Asks Citi Bike to Cover $1 Million in Lost Parking Revenue

New York City’s bike share system, Citi Bike has had a rough first year. The bikes are in bad shape, the docking technology is glitchy, and the system has been plagued with financial troubles for months. To make matters worse for the beleaguered program, New York City is asking Alta Bikeshare—the company which oversees Citi Bike—to cough up $1 million to cover lost parking revenue from the parking spaces the bike stations occupy. Read more.