At its meeting on March 3, 2023, Board of Directors of Toronto Parking Authority considered Item PA2.6 and made a recommendation to City Council. Summary from the report (February 27, 2023) from the President, Toronto Parking Authority: Bike Share Toronto is a convenient, affordable and sustainable mobility option that has emerged as an integral component of Toronto’s transportation network. Since its inception in 2011, the program has seen tremendous success, growing from a system of 80 stations and annual ridership of 400,000 to one of North America's largest bike share systems with a network of over 680 stations, 7100 bikes (including 525 e-bikes) and ridership of 4.6 Million in 2022. Toronto Parking Authority aspires to make Bike Share Toronto the premiere bike sharing system in the world. Management's Bike Share Growth Strategy will deliver a significant expansion to all 25 Wards including electrification of 20 + percent of the fleet. These programmes are designed to elevate customer satisfaction, drive geographic breadth, improve customer accessibility, and deliver a strong platform for sustainable growth over the long term. Bike Share Toronto's success to date can be attributed in large part to management's focus on delivering a consistent, reliable customer experience for each and every ride. These efforts were rewarded by securing our best ever customer satisfaction score of 92 percent during our peak summer season in 2022. However, as Bike Share continues to enjoy double-digit ridership growth, our operating performance is beginning to be stressed reflecting market place demand exceeding supply-particularly during peak operating hours. This traffic drove a 19.4 percent increase in programme expenses in 2022 exacerbated by inflation, investments in frontline resources and more-costly E-bike operations. Failure to address the imbalance between volume growth and cost pressures will degrade key operating metrics and ultimately undermine customer experience. In order to address this material risk and ensure the sustainable growth of the programme, management is recommending modest changes to its rate structure, which has been unchanged since 2017 despite the programme tripling in size. This report provides an update on Bike Share's rate structure review, including an overview of the research methodology used to develop recommendations for a new and modernized Bike Share Toronto rate structure, that, if approved, will take effect on April 3, 2023.
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