The city has chosen a company to run its public bike share program, which is set to start rolling next year with annual memberships expected to cost under $100.
Alta Bicycle Share will manage the bike share network, the city Department of Transportation said Wednesday.
The 24-hour-a-day program envisions 10,000 bicycles at 600 stations, which would make it the nation's largest bike sharing system. The stations will be in parts of Manhattan and northwest Brooklyn at locations still to be determined, the city said.
Stations in other boroughs are also being explored.
Annual memberships will cost under $100, the city said; daily and weekly memberships will also be offered. Rates are still being finalized, but in general, a membership will entitle a rider to unlimited free short trips, and longer trips could have usage fees.
DOT said the program is being privately funded, and that Alta will enter a revenue-sharing agreement with the city for all profits.
"Bike share offers a practical and cost-effective option that generates revenue for the city," Deputy Mayor Howard Wolfson said.
City Hall has been on a campaign to promote bicycling citywide in recent years.
DOT installed 200 miles of bike lanes between 2006 and 2009, and has a goal of reaching 1,800 miles by 2030.