I read the application for the bike share grant. Question 14 is answered that funds are "secured" and "available now" for the initial start up costs.

This seems contrary to Dirk's post on 12/9, where Mr. Novik states "I think we're going to have serious commitments from people who do have the money." Secured and available now and I think are not the same.

Have those commitments materialized and been memorialized over the last 4 days? If not, will the PBOT be amending the grant application, or sticking with the falsehood? Or, is PBOT going to float money for the start up costs and then hope to recoup them in the future from "contract savings" or maybe a magical pot of different colored money (taupe seems appropriate).

Hey, nice reporting, Dirk. But I don't think it's accurate to say that PBOT asked to spend $2 million to expand bikeshare to Swan Island. They asked to spend $2.5 million to expand it to the commercial districts on Alberta, Belmont, Hawthorne, Division and 27th, plus a few other locations including one kiosk on Swan Island.

http://www.wweek.com/portland/file-658-.pd…

Thanks, Michael. You're right that it's not just for Swan Island (though they seem to put a big emphasis on it in the application). I'll modify that. As far as the $2.5 million figure, it's true they're asking to spend that but, as I said, they've actually only requested $2 million in Connect Oregon money. If it's approved, PBOT would have to pony up $500,000 of its own to get the grant. That money would hopefully come from bike share sponsorship revenue.