Chicago Picks Vendor for Bike Share Program

The city plans to partner up with an Oregon-based company to build and operate the bike-sharing program

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    Chicago's bike-sharing program could soon become a reality thanks to a company based in Oregon.

    Alta Bicyle Share, Inc. has been selected by Mayor Rahm Emanuel's administration to make 3,000 bicycles available for several locations around the city this summer, according to city officials.

    The city council must approve the plan before it can move forward. Emanuel introduced an ordinance at Wednesday's City Council meeting.

    The bike-sharing program will allow people to pick up a bike from a self-service dock and drop it off at the nearest station to their destination.

    The bikes can be used on a one-time, weekly or annual basis. Annual memberships can be bought online, while one-time users can use a credit card to pay at an automated kiosk, according to officials.

    The project is estimated to cost about $21 million, with $18 million coming from federal funds and $3 million coming from the city.