There are suggestions that the city seeks a new operator for its increasingly popular bike-share program.
Ancaster Coun. Lloyd Ferguson stresses that “we need to put this out for re-bid” after SoBi Hamilton denied the city’s request for a copy of its audited financial statements.
The public works committee has also been told that SoBi is not building a reserve fund to replace bicycles at end-of-life, and Ferguson says it all “sounds fishy to me.”
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Mountain Coun. Terry Whitehead tells committee members that he shares those concerns as he seeks to ensure “transparency” and “accountability” in all of the city’s partnerships.
READ MORE: SoBi Hamilton celebrates successful year
SoBi Hamilton notes that it is not required to provide a financial audit since it does not receive operational funding from the city.
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The local non-profit adds that the city’s contract is with Social Bicycles, a separate entity, through which SoBi is subcontracted to operate the system.
The city owns the bikes and stations, which were purchased through a $1.6-million-dollar Metrolinx grant.
Peter Topalovic, the city’s project manager, adds that SoBi is also under no obligation to build a bicycle replacement reserve.
After just two years of operation, SoBi Hamilton General Manager Chelsea Cox recently stated that they have over 12,000 active members.
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