The system, which will be run by a private firm, is expected to launch in Spring 2012.
"RH: Now are you looking at this more for tourists, for people who just want to leisurely go around the city or could this be done for people who want to go to work and get some errands done?
JSK: We expect it to serve both groups. Bike share would give New Yorkers many more transportation choices as the city's population continues to grow and as traffic congestion increases. And it would be privately funded, so taxpayers will not be on the hook for coming up with dollars to support this, but they would share in any profits. And we think this is really the best deal in town for on-demand travel and a nice complement to our transit system."