Nice-Ride-sidewalk-station.jpg

Nice Ride Minnesota is the Twin Cities' public bike share program.

(Courtesy of City of Portland)

With this week's announcement that Portland's

will run

, it seems like a good time for an update on what's happening with Portland's go-by-bike plans: The organizers are in pedal peddling mode -- fundraising, that is.

Portland --

to oversee its bike-share system -- plans a kickoff next spring with 750 bikes, 75 stations and a fee schedule to-be-determined. The idea is that people will pay to borrow the bikes for short trips and errands in the city core. The mantra for how it works: "Join. Ride. Return. Repeat."

has launched a campaign for private sponsors to raise up to $6 million over the next five years to supplement $2 million in federal money to start and operate the local nonprofit program.

For $1.25 million annually and a minimum three-year commitment, you can become the system's one and only "title sponsor." That brings the right to pick the color of the loaner bikes and stamp your logo on the bikes, stations and even key fobs if you want.

The funding model is much like public broadcasting sponsorships, says Steve Hoyt-McBeth, a project manager with the Portland Bureau of Transportation. Other categories include "station sponsorships" for $12,000 a year and "supporters" for negotiable rates.

The Capital Bikeshare program has more than 1,800 bikes and 200-plus stations across Washington, D.C., Arlington, Va., and Alexandria, Va.

A

estimates 8,000 annual members of the bike-share program within five years and 700,000 trips in the fifth year with revenue projected to reach $1.8 million by the fourth year.

"We've gotten a lot of positive feedback," Hoyt-McBeth said. But it's too early to talk about any sponsor names or amounts, he said.

The program also hasn't decided yet how much to charge to rent the bikes. The city's

"The majority of American systems require riders to become 'members' before checking out a bike. Memberships ... range from $5 to $7 for a day and range from $50 to $85 for a year ... Once you're a member, the first 30 minutes of every ride are typically free. Ride longer, and a small fee is added to a rider's total cost. However, you may return the bike to any station and receive another free 30 minutes."

The bikes will be "sturdy and sleek," Hoyt-McBeth says. They'll have step-through frames, chain guards and built-in lights.

And no doubt a logo -- or two.

-- Margaret Haberman