Cincinnati Red Bike to resume operations after passing $500K fundraising goal
Red Bikes will be back on Greater Cincinnati streets by mid-May.
The cash-strapped bike-share program said Wednesday that it brought in the final $50,000 of a $500,000 campaign to restore operations for another 12 months.
With the program paused since January and on the brink of shutting down in March, Cincinnati City Council Member Mark Jeffreys, one of Red Bike's biggest advocates, took a lead role in assembling a group of supporters who were determined to save the service.
In just nine days, Jeffreys, city officials and other supporters raised $462,000 and kicked off a campaign to raise $50,000 more by Tuesday in order to restart service May 13.
Fifth Third Bank contributed $10,000 of the final funds, with $10,000 from an anonymous donor and the rest from contributions directly to Red Bike's online campaign.
"It is through generous corporate, public and private support that Red Bike was able to meet its fundraising goals," Jeffreys said in a press release.
UC Health pulled sponsorship
Red Bike had suspended operations on Jan. 12 after losing its lead corporate sponsor, UC Health, last year. The medical organization ended its sponsorship despite the 10-year-old service recording its busiest year ever with about 144,000 rides in 2023.
The board of Cincy Bike Share Inc. then voted early in March to dissolve Red Bike completely for financial reasons.
The vote surprised city leaders and bike proponents, who called Red Bike an integral part of the city's transportation infrastructure during a March press conference.
"We cannot have a truly accessible and connected city without multiple means of transportation," Cincinnati Mayor Aftab Pureval said then. "Organizations like Red Bike give the community an opportunity to explore our great city in a fun, easy and affordable way."
Who is supporting Red Bike?
At the same event, Jeffreys said the Red Bike board vote to shut down “galvanized the coalition of the willing” to save the service. He brought those advocates together on March 18 and walked away with commitments for:
$197,000 from the city of Cincinnati, which has invested about $1.9 million in Red Bike since its 2014 launch.
$100,000 from the Carol Ann and Ralph V. Haile Jr. Foundation. The private family foundation makes grants across Greater Cincinnati for “quality of life” causes.
$25,000 from the Greater Cincinnati Foundation, which likewise supports causes across eight counties in the region.
$25,000 from Interact for Health, a Kenwood-based nonprofit focused on regional health and supporting policies that improve mental health and well-being. Interact will also provide consulting services to Red Bike.
$15,000 from Duke Energy, Greater Cincinnati’s leading electricity and natural gas provider.
$100,000 from the Southwestern Ohio Regional Transit Authority, which operates the Metro bus system.
Metro's support is a sponsorship rather than a direct cash contribution.
Service can't support itself
That $462,000, plus the $50,000 from the recent campaign, will give Red Bike time to put together a plan for its future, according to Cincy Bike Share Inc. Board Chair Anastasia Mileham.
"We are slightly over the goal at this point which will allow Red Bike to start building its cash reserve back," she said via email.
Like all public transportation options, system revenue alone does not sustain operations. Memberships and rides account for approximately 34% of revenue, leaving a shortfall that has been filled in the past through corporate sponsorship and grants.
Long term, Red Bike needs funds from fares, corporate donors, individual contributors and the government, Mileham told The Enquirer in March. “I think the city will have a role," she said then.
This article originally appeared on Cincinnati Enquirer: Cincinnati Red Bike to reopen after reaching fundraising goal
